DALLAS, June 17, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring social media site Renren Inc. (NYSE:RENN). The report includes financial, comparative and investment analyses, and how this China stock fits into the social media industry and U.S. markets.
The full report is available at:
Renren Inc. (RENN) operates a social networking Internet platform in China. Its platform enables users to connect and communicate with each other, share information and user generated content, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. RENN's platform includes the main social networking Web site renren.com, the online games center game.renren.com, the social commerce website nuomi.com, and the newly launched professional and business social networking service Web site jingwei.com.
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In the report, the analyst notes:
"Shares of RENN traded to a new 52-week low of $6.77 on Thursday, but later recovered a cent to close down $6.78, down nearly 10% from the previous session. Over 11 million shares have traded hands during the session, versus the 10-day average volume of about 8 million."
"RENN was initiated with a Hold rating at Jefferies yesterday, with price target set at $48."
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