Bitcoin sets a new all-time high above $6,000 >>> READ MORE

Social Stock Tracker Remains Stable

Angie's List boomed after its earnings report, then fizzled out


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.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC