China Stocks

[Gamma1848]

RENN owns 10% of eLong?

One of RENN's IPO document says that they own marketable securities in eLong. link

A few low quality sources online are citing that RENN bought a 10% stake in eLong in February 2009. link

The head of Renren's audit committee is the CFO of now halted LFT and he resigned from RENN after the Citron hit piece immediately prior to the IPO. He was previously the CFO of eLong and SOHU.

Verification of the 10% stake and other discussion on RENN is encouraged though I fear the more research I do the less I will like this investment. Maybe I should just stick to the buzz words.

The trading action did look strong today and I'm feeling good about my new Friday expiry calls.