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Technology Stocks : Renren

RENN 1.650

-2.9%

Jun 21 5:00 PM EST

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To: Zen Dollar Round who wrote (235)	4/20/2012 7:47:16 PM
From: zax	Read Replies (1) of 310

Apparently, some others have the same intuition that I do... Facebook IPO Could Drive Gains in This Rival: Najarian Published: Friday, 20 Apr 2012 \| 4:58 PM ET By: Lee Brodie Producer cnbc.com Two stocks have landed on Jon and Pete Najarian’s trader radar after their proprietary heat seeker identified unusual action. What must you know? Ren Ren Pete Najarian has Renren [RENN 7.13 0.08 (+1.13%) ] on his radar due to higher than usual volume in the May 9 calls. "These calls really stuck out," he says. "Plenty of buyers came in during the first hour." Najarian thinks the hype around social media is behind these bullish bets. As a popular social networking site in China, Najarian thinks options investors are betting that excitement surrounding the Facebook IPO may be contagious and spread to this this rival. "This is a stock that people refer to as the Facebook of China, I'm not sure it's at that level, but it's certainly generating interest." And from the recent options activity, Najarian concludes, "Institutional investors appear to be expecting upside."

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