Angie's List stock over the past week is up 18%. The stock which had only recently been as low as $8.94 a share earlier this month had risen as high as $12.15
When the stock rapidly fell in August there was an explanation. On the 14th of that month all the company's stock became freely traded and the additional stock flooding the market caused it to go lower. So that explained the sharp August decline, albeit not the more long term decline.
I looked for the breaking news that would explain the sudden September surge and couldn't find anything. I did find this article on the IStockAnalyst blog from today that is positive on Angie's List. suggesting that the company could deliver multi-year EBITDA (earnings before interest, taxes, depreciation and amortization.). Yeah, good luck with that. The company has lost money for 17 consecutive years and is based on an outdated business model.
Interestingly MSN Money has six analysts who rate Angie's List as a "strong buy," another rates it as a "moderate buy" while only one analyst suggests selling, i.e. is a "strong sell."
Stock is up because Angie's List reaffirmed earnings projections.
Personally I don't get it how a vendor rating system can have a market cap of $700 million. Especially with the grade inflation therein.
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