In terms of stock price, terribly. The stock has drifted down from $6.00/share to somewhere around $4.80 today. I see two potential, and likely, reasons for this. Take the acquisition of Banks.com (BNNX.PK): As I pointed out at the time, there was an arbitrage opportunity. I'm sure there have been some traders who bought shares of Banks.com and shorted Remark Media. Also, anyone who bought in the PIPE offering at $4.50 would have had every incentive to sell and take a quick 20% profit -- and, if they wanted to hold shares of Remark Media, could either wait or buy shares of Banks.com to replace it.
My first catalyst was the launch of Dimespring. So far, that plan seems to be on track. It has a runway to the end of the year with the recent funding. It has launched a beta version of its personal finance portal, Dimespring.com, which has the same technology as Sharecare does behind it. How it succeeds will likely depend on how successful the company is in recruiting contributors and advertisers.
My second catalyst was publicity from Remark Media. There haven't been any releases since the closing of the $4.5 million cash raise. Upcoming publicity could revolve around a) introducing its new team to the Street, b) the beta launch of Dimespring, c) the closing of the Banks.com merger, or d) the announcement of Q1 results with cleaned up corporate expenses, plus the addition of Banks.com results, which should be good with the tax season starting to ramp in Q1.
My third catalyst is Sharecare publicity/IPO/mentions by DISCA. Essentially, the entirety of the Remark Media's market cap hinges on the value of Sharecare. With a 15.6% stake, any news would noticeably impact shares of Remark Media. In the June 26, 2011, press release, the valuation of the stake Remark Media holds was worth $28 million.
The thesis still holds at the moment. If anything, it's probably a little more appealing -- there hasn't been any bad news, and you get a 20% discount on the stock.