UTA - looks to me that this is a huge endorsement for the view that UTA is for real. Seems that the recent short attacks have not been conclusively countered, hence the hesitation of investers to jump back in, in spite of the ridiculous valuation.
I can imagine that Ms Jiang is extremely p**sed off. If I would be her, I would already have phoned the CEO of HRBN, Baring and GS with a view to do a LBO asap. I don't know exactly how many shares she has already, but at the current valuation it would surely not cost her more than 100M, including a 20% premium to take the whole company private.
After all, she is the one that knows best whether the company is for real and how much cash there is in the bank.
In fact, if she would not do it relatively soon at these valuations, I would make me very suspicious...
