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Zillow (Z -1.4%), hit hard by Citron Research last week, is slipping after Barclays' Mark May...

  • Monday, October 1, 2012, 1:05 PM ET
    Zillow (Z -1.4%), hit hard by Citron Research last week, is slipping after Barclays' Mark May starts coverage with an Equal Weight. May touts Zillow's ability to address a U.S. residential real estate market that sees $1T/year in transactions and $7B/year in agent/broker marketing spend, but considers all of this baked in at current levels. Yelp (YELP +2.3%) is also being started at Equal Weight on valuation grounds, but is trading higher nonetheless. A quarter of Yelp's float remained shorted as of Sep. 14.
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    Yelp may surprise the shorts. Although both its financials and business model are alarmingly flawed, one can't discount the power of delusional thinking. The bubble may still have room to expand considerably before the inevitable burst.
    1 Oct 2012, 02:16 PM Reply Like
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