Thursday, November 17, 2011

Youku.com (YOKU) and Renren (RENN) - Both Disasters Post IPO

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Remember the "Facebook of China" Renren (RENN) and the "Youtube of China" Youku.com (YOKU)?  While I lambasted both for valuation reasons (Renren also had a bunch of other red flags)  [May 2, 2011: RenRen IPO Appetite Seen as Huge, but Red Flags Abound] , the Wall Street hype around these names was quite sickening.  Once the machine dropped the stock in the hands of the retail base, the true colors have come to light.  Fugly charts.




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