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Wednesday, May 11, 2011

Renren Inc ( NYSE: RENN) a Chinese largest social networking site keep touching new low and trading below issue price of IPO

Shares of Renren Inc ( NYSE: RENN) was down another 10 % today after yesterday's 7% fall, as investors were keep dumping the shares. As we announced yesterday that after the valuation and pricing announcements of LinkedIn shares,Valuation of Renren nc was not justified as company was way over valued than LinkedIn see our news report on story........

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Renren Inc shares were slipped below its issue price and trading $13.19. One can't believe that before a week when it was listed on NYSE last Wednesday, It was traded above $20 and touched even $24. Stock has loose more than 40 % in a week and still loosing as investors taking more cautious view on pricing of the shares.


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