Thursday, February 2, 2012
Renren (RENN) was touted to be the next big thing starting a bit less than a year ago. This social networking company based in China blew up as soon as it went public and has slowly dwindled down to a poor performing investment, depending on your buy price. As FaceBook has announced its IPO and is looking to become a publicly traded company, I hope you all see the risk involved in investing in a company that is based on a social network. After all, this isn't Google, Microsoft, or Apple that will continually roll out products that are "MUST HAVES." At best this will perform well out of the gate, but as for its longevity, well, get in and get out. Food for thought.