TheStreet.com (TSCM) closed at $3.01 on November 5th, 2010.
As I previously noted in my first instablog, TSCM is trading for almost the cash on the balance sheet.
http://seekingalpha.com/instablog/697570-joshua-heller/99983-thestreet-com-tscm-trading-for-almost-cash-on-the-balance-sheet
TSCM ended the quarter with $79.7MM in cash equivalents, approximately 2.9MM lower than last quarter. TSCM had 2.9MM in capital expenditures, with $900,000 in dividends while receiving $900,000 from a sale of non core assets (salepromotions.com). TSCM does not have any debt. With a current market cap of $91.4MM, the stock market is valuing the existing business for only 11.4MM.
The catalysts still remain for TSCM, higher advertising revenue (9% increase YoY) from a recovering US economy and higher subscription revenue (8% increase YoY) from a recovering stock market.
There are two new partnerships that the company is excited about, that should bring new traffic to TheStreet.com. A partnership with the PBS The Nightly Business Report, with TSCM creating the editorial content on a weekly basis (running on Tuesday's show) and a partnership with Newsweek which will feature editorial content on both the print and online properties.
Also driving traffic, the mobile website version of TheStreet.com (TheStreet.mobi) has also been released.
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