I'm putting out a request. Does anyone know anything about RenRen (RENN)? It's supposed to be the new Face Book of China. I know the Two characters for the REN and the REN. They are the characters for People. As in PeoplePeople. Good name for facebook of China. It has a negative earnings report currently, but that is last quarter. What will the new earnings be.
I just read a status report on RENN. It was negative. It has no P/E, but that's okay as it's a new IPO. It's supposed to announce earnings on August 11th. They could be awesome, or negative. That is my request. I think it will do okay, if they really do come alive and meet up with their potential.
In fact, one report said it had a twelve month projected P/E of 387. That's high, even too high, but at least their projecting some earnings. Currently the ratio says N/A, or not applicable, because, if you'll remember from math class, you can't divide by zero. No earnings divided into $10 is still N/A.
In fact, whoever wrote the report, has a price target of $9. That's scary, but the options are very good. I've been looking at this one as a covered call stock, and the numbers are good. Maybe because there is so much speculation.
So, I'll ask you my friends, does anyone have info on this company?
Send your friends to wadecook22.blogspot.com
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