During the past few weeks, the Social Stock Tracker has seen little volatility. This has been the case despite the release of earnings reports from Zynga (NASDAQ:ZNGA), Groupon (NASDAQ:GRPN) and LinkedIn (NYSE:LNKD).
And last week, the Social Stock Tracker continued to be fairly sedate.
Angie’s List (NASDAQ:ANGI) announced its first earnings report as a public company. Revenues spiked by 70%, beating the Street estimate of $27.4 million, and the paid member base increased by 78% to 1,074,757. In fact, the company is getting leverage from its economies of scale — during the past year, the average customer acquisition cost fell from $60 to $51.
While the stock of Angie’s List hit $17.13 on the news — gaining more than 7% on the day — there was not much conviction on the trade. By Friday’s close, ANGI shares were back down to $15.61.
Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “The Complete M&A Handbook”, “All About Short Selling” and “All About Commodities.” Follow him on Twitter at @ttaulli or reach him via email. As of this writing, he did not own a position in any of the aforementioned securities.