RINO Signs Own Death Sentence, Company Likely To Be Halted Forever As Chinese IPO Craze Fizzles

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sudden Debt's picture

"then destroying the credibility of every Chinese company "

 

credibility?

Chinese companies?

 

This is the first time I've read those words in 1 sentence...

rocker's picture

Little Ones have learned so well.  What did we teach them ???  Where are the satisfied requirements to be a IPO ???

Or is it all about the Fees.

IQ 145's picture

 reply for the poster: But what about the solar panel companys touted by the famous Canadian pension fund advisor ? They're still okay, right ?

Abiggs's picture

Does anybody even give a shit - please, this is like the third post on this worthless stock.

Coupled with Mike Keiser's move to CO topping the list as yesterday's story of the day, seems like there is a major lack of material to cover lately...

bobert's picture

OK I give up. Whats the stock symbol for the new general motors? I type GM and GMC into Yahoo Finance and get Green Mountain Coffee Company.

snowball777's picture

It's GM. Blame Yahooohooooo.

bobert's picture

Thanks.

I'll try again on Google.

Cookie's picture

Yahoo Finance is terrible, wrong quotes, missing charts, waste of time

IQ 145's picture

 For some reason that made me laugh; theraputic effect on arthritis pains; thanks. maybe it really is a green mountain coffee company ? who knows.

bobert's picture

Us equally smart guys think like a think.

You are welcome!

bobert's picture

And now GM is dropping below $33.30.

Just in case we are surveillanced I can only ask questions due to some certain licensing constraints.

So......Is it time to short GM???

Hellofanenigneer are you awake yet?

 

goldmiddelfinger's picture

This from a country that supports CRM at a $10 pop to $126 on 32 cents earnings? LOL

Get real. Get GM. Buy a $40k Volt already.

IQ 145's picture

 A "Voltswagen"; the peoples electric fantasy.

goldmiddelfinger's picture

CRM Plus $18 now to $134 on 32 cents. Am I to late to get in?

Hansel's picture

It wasn't $0.32 cents, it was $0.15. The adjustment was for share count difference. The share count is up because the company constantly issues new shares to CEO Marc Benioff so he can sell the stock EVERY SINGLE DAY.  This is not an exaggeration.  Look at the link.  I have been following the stock for 4+ years, and nothing has changed.  The guy makes $1,000,000 a day off a company that makes $21 million a quarter.

The forecast for next quarter is GAAP $0.06 cents. Non-GAAP is forecast at $0.27, once taking out $0.25 for stock based compensation. The stock is Marc Benioff's personal piggy bank only.

Dburn's picture

+ 1

That is fricking incredible. I went through Yahoo's listing and it looks like almost every business day in the past year he has sold 10,000 shares. He hasn't missed a day in November. 1.1 , 1.3 Million a day.

 

Reall Good Catch Hansel

Common_Cents22's picture

I've talked to a few other traders that are puzzled on Salesforce.   What is keeping this stock up?   

trav7777's picture

an "environmental protection" company in CHINA???

BWAHAHAHAHAHAHAHAHAHAHAHA

StychoKiller's picture

Ya gotta admit, lotta "upside potential" there!

Jason T's picture

Let's NOT paint a brush across the entire Chinese Small cap.  That is like O'Reilly blaming ALL muslims for 9/11 or the Germans blaming ALL the Jews for their hyperinflation.  

Be above that and call out RINO for fraud, not the entire Chinese small cap sector. 

In China, they commit fraud, they lose their head remember. 

 

 

bobert's picture

Balanced thinking can be boring.

Vergeltung's picture

O'Reilly said no such thing.

DosZap's picture

Jason,

Screw the video, were they Muslims or not?.Truth bites.

They sure as hell were not Protestants.Or Quakers.

The bottom line is O'Reily was right, and the V sluts (sans one) were wrong.

IQ 145's picture

 I'm willing to "paint a brush"; or connect the dots, or just use a spray can; everything I've found out about Chinese small caps is horrifying.

DosZap's picture

Jason,

OT, but since you brought it up.

Pls O'Reilly is not my favorite, but the dude had a point.

9-11 murderers were Muslims, and Islamic terrorists.

He did not blame ALL Muslims, but to deny ALL that participated in 9-11 WERE, is a stupid comment.

Blame for all muslims comes from their lack of balls, to stand against these brain washed theocratic bstds.

slaughterer's picture

The "cottage industry" of shorting/bashing China small caps you refer to is growing each week: reference Citrus, MW, Seeking Alpha Instablogs by Alfred Little, Geoinvesting, etc.  These are footsoldiers in the US trade war with China, in some regards, carrying out the smaller skirmishes while Bernanke prepares larger eco-military campaigns.

IQ 145's picture

 If you say so; but I think this is just people who have done their homework and realized that business in China doesn't even resemble anything we're familiar with; fraud, lying, cheating, double sets of books, false supplier records; basically everybody is crazy and all these companies are just wounded ducks staggering along.

Duuude's picture

"...fraud, lying, cheating, double sets of books, false supplier records; basically everybody is crazy and all these companies are just wounded ducks staggering along."

Yer referencing tha Banksters, right ?

bobert's picture

I found GM on Google Finance just in time to watch it drop below $34.00

Oh dear, I'm tearing up.

Not.

Blano's picture

Keep watching.  It's working on breaking 33.

Careless Whisper's picture

verified financial statements based on strong internal controls.

moofph's picture

..."misstatements" on the rise ...go long.

Canucklehead's picture

I have to chuckle about the Canaccord reference.  This is typical of that firm.  Back in the days (80's - 90's) when the Vancouver Stock Exchange was raping and pillaging every little investor who played in the West Coast sandbox, Canaccord was the king of the pirates.

Going forward, it will be very easy to identify prime shorts of Chinese companies.  Go through Canaccord's past recommendations and take the opposite position of that recommended.

It's good to see the Canaccord business model replaced small mineral exploration companies with small Chinese manufacturing companies.  What is next?

Dburn's picture

Anyone know what happens to the PUTS I have on this stock?

Some expire today and some in Dec.

Muddy Waters just got a booster rocket attached to their credibility.

bugs_'s picture

Wonder who is on the wrong side of all those RINO puts.

My heart goes out to those holding RINO puts that expire shortly, you were right, you were lucky, but the house can still screw you if you are right and/or lucky.

Dburn's picture

+1

Bugs ...can you elaborate? Is there any place to find a rule on this situation? Looking at some serious dough for me.

Dburn's picture

Herte is the word. If the stock doesn't open today, and the Nov options are not in the money they expire worthless. M*****F******s

hammerheadjoe's picture

Sitting on Jan 22 ITM Puts - can this actually be shutdown in perpetuity?  What a freakin' racket!

Dburn's picture

You have a ETF there so that won't stop.But yeah, we are getting fucked.

I've seen a stock halt go on for months.

I read a blurb that most Chinese Companies are too cheap to hire fulltime CFOs and this was from a Bull!!. His complaint in essence was it 's hard to get tranperceny so we can truly find out if a company is undervalued. Then he goes on to mention : Of course ONP, RINO and FUQI don't help too much.

So RINO gets a 100 Million on it's IPO and doesn't hire a fulltime CFO?

 

Here is another one to do DD on APWR and of course FUQI that just got a delisting notice for non-compliance on issueing financial statements. Huh...wonder what that's all about? heh

Fortunes Favor's picture

A lot of money has been made over the last 3 months in the Chinese new issues. Many of these conpamies are legitimate and will be long term successes. Should gains be booked? Sure booking profits is never a bad thing, but pretending the whole country is a fraud is unproductive and foolish.

The fraudulant companies revealed in China so far have be reverse mergers. RINO is not a recent IPO. It was a reverse merger on 9/21/2007!

Trying to reduce the noise, suppress emotions and keep it real....

http://rosenthalcapital.com/blog/

El Gato's picture

NASDAQ is not going to open this fucker today. For all you put buyers of frauds out there like me, factor in a trading halt to your trading strategy. Godamnit.