Vince Martin
Long/short equity, value, gambling

TheStreet Looks Cheap, But It Also Looks Out Of Options

I managed to bail out of my long position in TheStreet (NASDAQ:TST) in November near $1.70, and not a moment too soon:

(click to enlarge)


I took a small position ahead of Q3 earnings based on an admittedly flimsy bull case, arguing what was then a yield well past 5% would provide support and allow for a low-risk flyer on the newly acquired The Deal and BoardEx businesses.

Including a dividend payment, my losses were minimal, but clearly, recent action proved how flimsy the support provided by the yield would turn out to be; indeed, at Tuesday's close of $1.22, the dividend yield now exceeds 8 percent, and TST trades at its lowest price in over

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