Renren (RENN) Trades Flat as Volatility Increases; Shares Continue Below Most Moving Averages
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Renren (NYSE: RENN) is seeing increased volatility as shares remain at break even levels on the session.
According to market data, option volatility on Renren is up 8.9 percent from Monday's close, which it still remains at just 80.8 percent of its trailing annual average. Implied volatility is currently at 71.2 percent.
Shares have been hanging on to the $4.50 - $4.55 level, just about where they closed Monday. The stock has been down as much as 2.9 percent.
As for technicals, Renren is below the 50-, 100-, and 200-day moving averages. Mostly, Renren took one following the Facebook (Nasdaq: FB) IPO on May 18th, as the flubbed offering spread across many Internet-based companies.
According to market data, option volatility on Renren is up 8.9 percent from Monday's close, which it still remains at just 80.8 percent of its trailing annual average. Implied volatility is currently at 71.2 percent.
Shares have been hanging on to the $4.50 - $4.55 level, just about where they closed Monday. The stock has been down as much as 2.9 percent.
As for technicals, Renren is below the 50-, 100-, and 200-day moving averages. Mostly, Renren took one following the Facebook (Nasdaq: FB) IPO on May 18th, as the flubbed offering spread across many Internet-based companies.
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