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

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)
Comments (1)
  • Weibo is attracting huge followings. QQ is maintaining its huge followings.

     

    There is no room for Renren.
    27 Nov 2011, 03:39 AM Reply Like
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