Renren (RENN -7%) makes new 52-week lows after Pac Crest's Evan Wilson downgrades shares to...

|About: Renren Inc. (RENN)|By:, SA News Editor

Renren (RENN -7%) makes new 52-week lows after Pac Crest's Evan Wilson downgrades shares to Sector Perform, and forecasts below-consensus 2012 revenue and EPS. Wilson is worried about competition from Sina's (SINA) Weibo and Tencent (TCEHY.PK), and also about a lack of differentiation among Chinese social networking sites. Renren is now down 74% from its May IPO price. (Q3 results)