Category Archives: Snark

Angie’s Pissed

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In this propped-up, hyper-inflated, completely-fake “market” of ours, if you run a public company that isn’t puking to new highs every day, you’ve got yourself some problems. Because, looking at these companies below, it seems to me that if in the year 2189, markets are every allowed to function normally again, they’re all going to find firm support at $0.00. I could show plenty more charts like this, but I’ll keep it as simple as A, B, C………. (more…)

Internet Equities Return

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Here’s Coupons.com, which reported its “strong” results today – - and the dashingly handsome CEO/Founder Steven Boal in the lower left. It’s like 2000 has come back in full force. Talk about half-off! (NOTE: this doesn’t even reflect the extent of the damage; this piece of crap has plunged to lifetime lows, well below what is reflected here; there’s a personal element to this story I shan’t go into right now, but suffice it to say I’m delighted to see this company in flames).

0807-coup

Not-For-Profit

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I have been snarking about “for-profit” education companies here on Slope for years. Simply stated, I think they are a cynical, heartless industry, since they prey on the ignorant. The poor folks watching those ridiculous ads on television, thinking that by going to ITT “Institute” or the “University” of Phoenix, they can change their life for the better – - -it’s just sad. It’s even more evil since they fund the tuition of these poor bastards by means of you, the taxpayer, since they take out enormous student loans that in most cases are never paid back. Thus, it’s awfully nice to see some divine justice being meted out……….to wit:

0805-ittteh

The Damn’d

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I am seeing some stocks these days which I think are basically doomed, but I’m not going to bother shorting them, mainly because the stocks don’t have much history to go on. Frankly, this is probably a mistake, because these profitless Internet companies have pretty much nothing in terms of price support, and I suspect all three will find themselves in single digits (as Angie’s List already has) in relatively short order.

0804-COUP 

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Angie’s Lost

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Earlier this year, I found out a good friend of mine had a ton of Angie’s List stock (a seriously large amount). I normally refrain from giving advice to anyone one-on-one, even friends, but I urged him to get rid of it. He reminded me of this last night, when he sent me this snippet of one of my emails I sent him last February, (obscenity politely redacted):

I actually have thought Angie’s List was a bullshit company. I wrote a scathing post about them in December. I think they’re going to be a single digit stock, perhaps even before the year is out.

Well, the market hasn’t opened yet, but I’ve marked with an arrow where the bid/ask currently is:

0724-ANGI

The same friend wrote me this morning to shared with me this information from ANGI’s earnings release, which, ummm, kind of explains the problem:

- Marketing cost per paid membership acquisition:  $90
- First Year Renewal Rate:  74%
- Cost of a FULL-YEAR membership:  $6.99