Renren Stock Gets Lift from Upcoming Facebook IPO
Investors have put some serious volume into investing in Renren, the “Chinese Facebook” over the last three days, seemingly identifying the site as a possible social media growth stock that can ride the coattails of Facebook. Between January 29th and the end of the 30th, the stock rose from around $4 to a high of $6.50, but has since come down to around $5.50. The question is whether the stock will continue to grow as the Facebook IPO goes through.
Facebook is about to file their IPO papers, and the big questions are going to center around revenue and earnings; Have they continued their growth since 2009, when the public got a glimpse of their $1.24
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