Bleecker Street Research
Long/short equity, special situations

VisionChina Media: No Fundamental Reason For This Rally

There exists a company that is being held in contempt of court, owes more than twice its market cap to another company, and yet is up 220% in the last month, for no apparent reason. That company is VisionChina Media (NASDAQ:VISN), a China-based advertising company with a myriad of issues and red-flags surrounding it. The current price is $8.39.

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If you are interested in seeing all several investor presentations and many documents, you can visit the company's Investor Relations website here. The company has a fact sheet there which provides a good overview of the business. As described in the fact sheet, the business is as follows.

"We operate one of China's largest...
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