RINO - URGENT why is this stock falling?

Discussion in 'Stocks' started by tradingjournals, Nov 10, 2010.

  1. return on equity is positive, but stock is falling hard. What are the reasons? news, rumors/etc ?
  2. muddy waters research report saying company is a fraud
  3. NoDoji


    "Recently, one market commentator published a report questioning the accuracy of RINO's financial statements. In its SEC filed annual report for fiscal 2009, RINO reported $193 million of revenue, while the annual report it filed for 2009 with the China State Administration for Industry and Commerce reported only $11 million of revenue. This discrepancy, along with other accounting inconsistencies and questionable transactions between RINO and its management, has raised red flags and prompted an internal review."

    Seems like a wee bit of a revenue discrepancy there. This should prove interesting. Stock has a 50% short interest. Hmmm...