Renren Stock Suffers After Underwhelming Q2
Renren's stock has slipped after a mixed Q2 earnings report earlier this week, where net revenues were $44.8 million, up 47.5% year over year, but advertising revenues decreased and analysts are worried that the social network may be losing its potential as the "Facebook of China". The stock has dropped around 25% over the last few months and the big question is whether nor not now is the time to buy cheap.
Renren’s stock has slipped after a mixed Q2 earnings report earlier this week, where net revenues were $44.8 million, up 47.5% year over year, but advertising revenues decreased and analysts are worried that the social network may be losing its potential as the “Facebook of China”. The stock has dropped around 25% over the last few months and the big question is whether nor not now is the time to buy cheap. I look at what some analysts are saying below.
Paulo Santos emphasizes that Renren is a clear sell over at Seeking Alpha, the problem is that Renren’s revenues are increasingly blending towards gaming, and that turns the site into more of an online gaming site than a social network.
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