I started buying RINO in the $8 range when they first came to market. I prematurely sold all of my stock by $20, and the stock blasted over $30. Since then I’ve traded it, but I haven’t tried to take down a new position, until last week.
The stock has been getting destroyed as of late, the chart is extremely ugly.
So normally you’d run away from a stock like this, but I’m convinced that clean water and water treatment is a massive problem in the world, especially in China. Their last CFO had very little experience dealing with U.S. markets and I always questioned how they dealt with their cashflow. That said, the last conference call was a disaster. It was clear that the company needed to do something. They needed to hire the right people with the right expertise to deal with the U.S. market and cater to U.S. investors. Not to mention the fact they need to manage their communication appropriately. Their website sucks, etc.
Well, the news today is extremely bullish in my opinion as it shows the company recognizes the importance of the U.S. stockholder base. I grabbed the following quote from an online forum – I completely agree with the poster.
“There were THREE important personnel changes announced today. I have shown the changes below with why they are important to U.S. holders:
1)New CFO – Former Brean Murray analyst and CFA. This means he knows not only what to do, but what it means for the U.S. investor and how to communicate it. 2) New CSO – American, rolling out RINO’s U.S. strategy. 3) New CEO Assistant – “extensive experience in the U.S. capital markets and will assist with all shareholder and corporate communications”. This means a real emphasis on understanding the stock price and investors.
I cannot imagine anything more positive for the stock. The is a huge step for any Chinese company.”
I tend to agree, it does appear that RINO is committed to building a real company with real shareholder value. ..and believe me, if you’ve been following the company, their communication is horrible – and moreover the last CFO needed to leave the company, I’m glad they transitioned it appropriately. My current position is average at $17.54… I could have bought a little later, but whatever, I’m sure it’ll be fine.
