Lately a lot of stuff has been going on with China MediaExpress, The latest piece of research came from Muddy Waters, LLC with the title: CCME: Taking the Short Bus to Profits.
I honestly don't know who and what to believe anymore. From firsthand I witnessed that some institutional money was buying today. Money for the long run, I don't know.
If that investors did due diligence, I don't know. If it is just for trading purposes, I don't know. If it is all part of a Bigger Plan? It could be.
To be honest I don't know it anymore.
What I know and I really believe is true is their cash balance of $4.42 per share. What they are going to do with it I don't know.
What I am going to do I know and that's sell some out-of-the money put options
March and get some money for free. Maybe it's not for free I don't know.
This is the life of a trader/investor not knowing anything but believing everything.
And yes I still believe CCME is legitimate.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in OTCPK:CCME over the next 72 hours.