Renren: An Indirect Play In Online Lending
Wed, Oct. 12, 5:35 PM
Fri, Oct. 7, 3:04 PM
Tue, Oct. 4, 3:00 PM
Thu, Sep. 8, 3:00 PM
Tue, Aug. 23, 3:00 PM
Tue, Aug. 16, 8:00 AM
Mon, Jul. 11, 3:00 PM
Wed, Jun. 8, 6:04 AM
- Renren (NYSE:RENN): Q1 EPS of -$0.03
- Revenue of $10.78M (+29.3% Y/Y)
Tue, May 31, 3:00 PM
Mon, May 16, 12:51 PM
Mon, May 16, 6:10 AM
- Renren (NYSE:RENN): Q4 EPS of -$0.05
- Revenue of $13.57M (+24.0% Y/Y)
Wed, Jan. 20, 1:18 PM
- Like clockwork, high-beta tech stocks continue selling off at a feverish pace as markets nosedive. Today's selloff comes with the Nasdaq down 2.7%, and the S&P 3%. Margin calls are likely a contributing factor.
- Solar stocks, which sold off yesterday even as major indices moved little, are underperforming again as energy stocks get routed once more and oil drops below $27/barrel. Hard-luck SunEdison (SUNE -13.6%) is now close to $2. Also tumbling: Canadian Solar (CSIQ -8.8%), ReneSola (SOL -8.2%), and Yingli (YGE -6.9%).
- Security tech plays FireEye (FEYE -9.3%), Palo Alto Networks (PANW -6.1%), Rapid7 (RPD -11.6%), and Vasco (VDSI -10.5%) aren't faring better - peers Fortinet and Barrcauda were downgraded this morning. Nor are Splunk (SPLK -7.7%) and Tableau (DATA -7.2%), two firms often hyped as big data/analytics plays, or Russian tech firms Yandex (YNDX -6.6%) and Qiwi (QIWI -6.9%), which often sell off when oil prices and the ruble are under pressure.
- Elsewhere in tech, big decliners include Zillow (Z -7.1%), Square (SQ -6.7%), Fitbit (FIT -6.6%), Groupon (GRPN -6.9%), TrueCar (TRUE -7.7%), Pure Storage (PSTG -7.8%), Jive Software (JIVE -7.4%), Shopify (SHOP -7.2%), Ruckus Wireless (RKUS -8%), Renren (RENN -6.8%), Infinera (INFN -6.1%), TripAdvisor (TRIP -6.5%), Ellie Mae (ELLI -6.7%), and Knowles (KN -6.2%).
- Also off sharply: Several large-cap tech stocks, TowerJazz, Synaptics, Adtran
Dec. 31, 2015, 9:31 AM
- Matthew Nimetz, an advisory director at investment firm General Atlantic, has left Renren's (NYSE:RENN) board. So has Katsumasa Niki, a corporate strategy/development exec at SoftBank.
- Renren is "in the process of evaluating candidates for a new independent director of the company." Its board bio page currently shows just five directors, including founder/CEO Joseph Chen (chairman) and COO Jian Liu.
Nov. 27, 2015, 5:41 AM
- Renren (NYSE:RENN): Q3 EPS of -$0.08
- Revenue of $12.42M (-36.4% Y/Y)
Sep. 30, 2015, 9:19 AM
Sep. 17, 2015, 7:05 PM
- Renren (NYSE:RENN) has led a $15.5M funding round for Aspiration, a startup that delivers a curated set of mutual funds and other financial products, with the goal of taking traditional advisors and other middlemen out of the picture. GSV Capital (NASDAQ:GSVC) and a slew of other investors have also taken part in the round.
- Aspiration claims to have seen a doubling of customers every 6 weeks (on average) over the last 6 months; millennials make up a large chunk of the base. Notably, customers only pay what they choose to. However, over 90% of investors in the Aspiration Flagship Fund (MUTF:ASPFX) are said to have paid the company.
- Renren has stakes in a slew of fintech/online lending firms, including top LendingClub rival SoFi. The company, which currently has a $974M market cap, has estimated its long-term investments were worth $611.5M as of June 30; $257M in cash/short-term investments were also on the balance sheet.
- Renren rose 8.4% in regular trading to $3.09. GSV fell 0.8% to $8.48, 46% below a Q2-ending NAV of $15.72/share.