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.
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.