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Technology Stocks : Renren -- Ignore unavailable to you. Want to Upgrade?

To: zax who wrote (42)	5/10/2011 3:15:01 PM
From: FR1	Read Replies (1) \| Respond to of 310

What idiots the talking heads are. They wait for something to happen an then print some absolute garbage as to why it happened. In this case talking about possible government interference someday - like nobody ever thought of that. In their SEC filings RENN pointed out that this is China and the government could do anything to the company. That is true of ALL Chinese stocks - every single one of them. The Chinese government told the national oil company to lower prices when oil was going up which really hurt them. The government told LFC to buy this company an that company which hurt their stock. The Chinese government is slowly learning not to interfere unless necessary. In the case of RENN they have no reason to damage RENN - they want RENN to be healthy so they can use it to spy on the public. The same with BIDU and SINA. We interfere in the USA too only not as quickly. We told BAC to buy ML and told other banks to buy Bear Sterns and other companies. What is happening right now with RENN is exactly what happens to almost all Chinese IPOs - look at DANG and YOKU. The stock goes public with a lot of fanfare and goes up on the first day or so. Then all the investors that took them public start selling and they sell in a big way. The stock goes way down (to the IPO price and below) before leveling off. Then it all depends on the company. If it has a lot of promise, like YOKU, it rebounds and starts a strong march up. If it is not so good, like DANG, if just flounders there and only makes small gains. We don't know what is going to happen to RENN because we are still in the sell off phase. It should end soon. RENN does have a good story to tell and if they put up good numbers as time goes by it should go up.