A few months ago I wrote about NeuStar, Inc. (NYSE:NSR) saying that the company looked too expensive given the uncertainty surrounding a key contract - the local number portability administration contract which is currently up for renewal under a new lease beginning in the summer of 2015. That contract is supposed to be awarded by the FCC by May 6th, but I fully expect the FCC to miss that deadline - they have missed almost every other deadline associated with this process. Since my last article in January, the stock has cratered by 30% to trade under $30 a share. Shareholders who bought in last fall have done even worse with the stock down as much as 50%...
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