Renren Debut: Let the Volatility Begin 人人网首秀纽约：从此“动”起来？
After a bit of delay, a healthy dose of drama and more than enough hype, it’s finally official: Renren (NYSE: RENN) is a publicly traded company, beating out rival Kaixin to become China’s first listed social networking site. (English article) So what does this mean? Well, the company’s 29 percent jump in its first trading day is certainly one thing, though the stock was actually much higher at times during the session. All this has become almost the norm for China Internet stocks, which have become a favorite of hedge funds and other very short term (as in 1 hour or less) investors looking to make a quick buck off the China Internet story that is probably more hype than reality. Renren’s gains seem to have come at the expense of other more established China Web firms, including two of the oldest players, Sina (Nasdaq: SINA) and Sohua (Nasdaq: SOHU), both of which have seen their shares sink in the last few sessions after reaching record highs in recent weeks. When the initial Renren euphoria finally dies, look for plenty of volatility in this stock as it deals with a number of issues I’ve highlighted before. (previous post) And if a correction in the broader market ever takes place, look for an even bigger correction in Renren’s overinflated price.
Bottom line: Reren has become a fast darling of short-term investors, meaning high volatility is in store for its shares in the next year.
稍有推迟、适度花边与大量炒作後，现在一切尘埃落定：人人网<NYSE: RENN>终修成正果，击败对手开心网，成为中国首个上市的社交网站。这有何意味？当然，人人网上市交易首日跳涨29%当属其一，期间涨幅一度更高。所有这一切几乎已是中国互联网题材股常态：对冲基金以及其他超短期投资者热捧中国互联网股票，以期转瞬之间实现盆满钵满，而中国网络股可能是炒作大於事实。人人网开门红似乎是以中国其他网络股下跌为代价，比如新浪<SINA.O>与搜狐<SOHU.O>，两家公司股价近来几周创纪录高位後，最近几个交易日下探。上市热潮过後，随着人人开始处理一系列问题，其股价可能会大幅波动。如果大盘出现修正，那麽人人过高的股价应该会有更大修正。
一句话：人人网已成为短期投资者迅速赚钱的“宝贝”，也就是说未来一年人人股价可能会有大波动。
Related postings 相关文章:
◙ Renren On Cusp of Winning IPO Race, Despite Latest Hurdle 人人网不顾险阻力求赢下IPO大战
◙ Renren Admits to Population Inflation; More to Come?
◙ Kaixin Fights Back in Race With Renren to Market 人人、开心上市大PK：开心扳回一局
