DANG: Buy Opportunity
By Evans Capital:Shares of Dangdang (DANG) have lost $100 million off of their market cap, because on Monday the company announced the CFO Conor Chia-huang Yang has resigned for personal reasons. It must not be a terrible reason, certainly not enough to erase this much in market cap, as the company announced that Conor will remain with the company for a transition period up to three months. The price has dropped 25% from a close of $10.19 on Friday April 13th to its current price of $8.16 as I type. I believe this dramatic of a sell off is unwarranted and offers a superb entry point.I wrote a couple of weeks back, that I feel DANG could be trading at $750 a share in 5 years, and a personal resignation of the company's CFO does not change my vision of the future of this company and its stock price. No otherComplete Story »
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