Renren: Look at the Chinese Facebook Run

Jan 30, 2012
J. Webster
Comments Off on Renren: Look at the Chinese Facebook Run

Ok, so everyone and their mother knows about the Facebook IPO that’s now on its way. But the news was a boon to the so called Chinese Facebook, Renren, as the stock shot up from around $4 a share to over $6 in just two days.

Yes, a nice 50% return in less than 48 hours of trading. Below is the five day chart of RENN, as you can see, the stock just took off as soon as it was announced that Facebook would have their IPO. Who needs to get in on the Facebook IPO when you can just buy the Chinese duplicate. The trade may have come and gone now though – as it’s already run up quite a bit. All those who got in can send a hearty thanks to Mark Zuckerberg.

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