China MediaExpress Holdings, Inc. (NASDAQOTH:CCME)

CAPS Rating: 3 out of 5

The company provides advertising on inter-city express buses in China.

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Member Avatar tim20440 (< 20) Submitted: 3/11/2011 1:05:29 PM : Outperform Start Price: $11.88 CCME Score: -147.76

Time to get in to this while the headwinds prevail. No brainer.

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Member Avatar RobfromBoston (< 20) Submitted: 2/28/2011 6:55:51 PM : Outperform Start Price: $13.60 CCME Score: -144.51

All the shorts are wrong on this one.

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Member Avatar chimpcontest (< 20) Submitted: 2/21/2011 1:29:24 PM : Outperform Start Price: $14.03 CCME Score: -144.97

DragontoadX haiku

Deloitte affirms cash.

Citron becomes Citronade.

Muddy Waters clear.

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Member Avatar metoo105 (28.66) Submitted: 2/17/2011 3:33:02 PM : Outperform Start Price: $14.21 CCME Score: -143.68

Here we have two upstart analysis folks dueling it out.

First there was a Citron coverage:
1. http://www.citronresearch.com/index.php/2011/01/30/citron-research-reports-on-china-media-express-nasdaqccme/
This was picked up by and pushed along by Muddy Waters:
2. http://www.muddywatersresearch.com/research/ccme/initiating-coverage-ccme/
These reports were recently refuted by an upstart investment bank Global Hunter Securities:
3. http://www.scribd.com/doc/47967878/Global-Hunter-CCME-pdf
and lately a panicky email was recently sent by Muddy Waters claiming a response is in the offing:
"Muddy Waters, LLC has reviewed the report on China MediaExpress Holdings Inc. (NASDAQ: CCME) issued today by Ping Luo (of Global Hunter Securities), as well as the February 7, 2011 open letter from CCME chairman Zheng Cheng (http://www.ccme.tv/eng/ir/ceo_letter.pdf). The report and letter are responses to our February 3, 2011 report, CCME: Taking the Short Bus to Profits.

Ms. Luo and Mr. Cheng’s documents contain gross misstatements of facts that are material to the investment case in favor of CCME. Muddy Waters, LLC intends to respond to these misstatements with evidence of the inaccuracies within a reasonable time period.

We reiterate our Strong Sell rating on CCME, and stand by our conclusion that CCME management is significantly inflating its revenue and earnings in order to generate management earn-outs and inflate the stock price so insiders can sell.

We intend to shortly contact CCME’s auditor, Deloitte & Touche LLP, and the enforcement division of the Securities and Exchange Commission with documentation of our work, including evidence that directly contradicts statements in the aforementioned documents. Such evidence will include transcripts of meetings and telephone conversations between Muddy Waters, LLC and individuals with authoritative knowledge of the matters in contention."
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My take is that Left screwed up. Muddy Waters is itself a scam. That contrary to an absolutely correct assertion that the attack itself might have materially harmed this company, this matter will be cleared up soon enough that no material change is felt by the company and moreover that it's still a bargain at this low price.

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Member Avatar Pirate58 (< 20) Submitted: 2/10/2011 4:07:19 PM : Outperform Start Price: $13.32 CCME Score: -146.42

I think the shorts are playing people for fools (no pun intended). Citron and Muddy Waters "reports" are self serving slander designed to take legitimate investors money! Everybody who ran for the exits on BORN and CCME just gave their money to these con artists.

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Member Avatar giovanni789 (< 20) Submitted: 2/9/2011 9:54:53 PM : Outperform Start Price: $13.34 CCME Score: -146.64

Citron and MW "reports" misleading

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Member Avatar emps (< 20) Submitted: 2/9/2011 12:26:14 AM : Outperform Start Price: $13.38 CCME Score: -145.97

Fundamentally China Media Express is in good shape and I firmly believe they were a target to bring CCME's stock price down by some ruthless option traders. I have all the confidence in CCME that they will recover from this, they are still a gem to be had.

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Member Avatar trader4356 (< 20) Submitted: 2/5/2011 2:04:21 PM : Outperform Start Price: $13.74 CCME Score: -145.93

People with certain agenda's are attacking this stock. At these prices, load up just like the big boys did

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Member Avatar colagolosa (< 20) Submitted: 2/5/2011 3:35:42 AM : Outperform Start Price: $14.67 CCME Score: -146.84

Great entry point.

Shorts have scared people that have not made their due diligence and once this is clarified the stock will rally.

Cash is very difficult to hide.

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Member Avatar JZ09 (< 20) Submitted: 2/4/2011 9:50:31 AM : Outperform Start Price: $11.74 CCME Score: -147.66

Are figures too good to be true? Have DTT, Starr etc all been FOOLed?

As a former auditor, I doubt that Deloitte would have taken on a client of such high reputational risk a mere 2 years ago without serious due diligence. Especially in a market like China.

The main issue that keeps me up at night is the complex relationship between CCME and the operator, a related party to the CCME founder; is that contract secure etc? Why is the contract necessary etc? If anyone can shed factual light on this issue, I would greatly appreciate.

For me the stock is a BUY. If it is a fraud, downside of 100%. If not - upside of 1000% +. If you could invest in 10 CCMEs and half were frauds, you would smash the market over time.

Disclosure - I am long (avg in 16.60) and will be piling in at these levels.

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Member Avatar Bobb1time (32.01) Submitted: 1/15/2011 11:07:04 AM : Outperform Start Price: $19.93 CCME Score: -149.44

THERE ARE A WHOLE LOT OF PEOPLE IN CHINA WHO WANT TO KNOW WHAT IS AVAILABLE FOR THEIR NEW FOUND WEALTH

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Member Avatar earledouglas (< 20) Submitted: 1/12/2011 12:50:25 PM : Outperform Start Price: $18.30 CCME Score: -150.21

China's largest TV advertising company. #1 pick by Forbes China 200 small-to-midsize group. Up 6% today (1-12-11)

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Member Avatar SqueezePort (< 20) Submitted: 12/27/2010 10:22:26 AM : Outperform Start Price: $15.65 CCME Score: -153.86

Short interest = 32% of float.

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Member Avatar ju006he (< 20) Submitted: 12/26/2010 12:12:44 PM : Outperform Start Price: $15.67 CCME Score: -154.26

Could be a $100 stock in the next two years. CCME is growing and you will reap the rewards.

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Member Avatar Maribaza (90.66) Submitted: 11/29/2010 2:58:41 PM : Outperform Start Price: $17.29 CCME Score: -162.03

TMFBevo

89,79,100
96,83,77

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Member Avatar WallytheWalrus (< 20) Submitted: 11/18/2010 2:07:12 PM : Outperform Start Price: $17.98 CCME Score: -160.64

In since the $10-$11s earlier this year but I think this one still has a lot of room to run. Rapid growth in an industry with a lot of prospects. Attractive valuation. The Big 4 auditor and the partner of Hank Greenberg/Starr International puts a lot of my skittishness about the fact it's a Chinese reverse-merger company to rest.

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Member Avatar noahfarb (33.31) Submitted: 11/16/2010 12:12:06 AM : Outperform Start Price: $16.54 CCME Score: -161.82

I love their core business- they sell advertising on tv screens on thousands of inner-city and airport busses. They're earning tons of cash. Hank Greenberg is a major investor. Audited by Deloite. And trades insanely inexpensive. The stock price has been very volatile, but in time the earnings will dictate a higher price.

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Member Avatar rhg555 (< 20) Submitted: 11/12/2010 4:28:04 PM : Outperform Start Price: $18.22 CCME Score: -160.10

It seems strong while the market is in the doldrums.

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Member Avatar techman1234 (< 20) Submitted: 11/9/2010 2:04:18 AM : Outperform Start Price: $20.48 CCME Score: -157.19

I like earnings with no debt worried about the short interest and the p/e ratio beung low after such consistent strong earnings

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Member Avatar Crucible151 (< 20) Submitted: 10/16/2010 5:07:55 AM : Outperform Start Price: $15.94 CCME Score: -163.95

Have been rocking it with this stock for a while. Wish I'd have gotten in sooner this week. Still happy with my gains, but don't think it's quite done running yet.

Hanging in there for now!

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