Joshua Heller's  Instablog

Joshua Heller
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Stock investors are always asking what is the catalyst for value to be realized? I originally thought like this which lead me to take too much risk. I now focus on being patient, controlling risk, and minimizing permanent capital losses. These steps have lead to significantly better returns.... More
  • TheStreet.com (TSCM) Q3 2010 update 0 comments
    Nov 7, 2010 9:05 PM | about stocks: TST

    TheStreet.com (TSCM) closed at $3.01 on November 5th, 2010. 

    As I previously noted in my first instablog, TSCM is trading for almost the cash on the balance sheet. 

    seekingalpha.com/instablog/697570-joshua...

    TSCM ended the quarter with $79.7MM in cash equivalents, approximately 2.9MM lower than last quarter.  TSCM had 2.9MM in capital expenditures, with $900,000 in dividends while receiving $900,000 from a sale of non core assets (salepromotions.com).  TSCM does not have any debt.  With a current market cap of $91.4MM, the stock market is valuing the existing business for only 11.4MM.

    The catalysts still remain for TSCM, higher advertising revenue (9% increase YoY) from a recovering US economy and higher subscription revenue (8% increase YoY) from a recovering stock market. 

    There are two new partnerships that I am excited about, which will drive new traffic to TheStreet.com.  A partnership with The Nightly Business Report (on PBS), with TSCM creating the editorial content on a weekly basis (running on Tuesday's show) and a partnership with Newsweek which will feature TheStreet.com editorial content in both the print and online properties of Newsweek.  

    Also driving traffic, the mobile website version of TheStreet.com (TheStreet.mobi) has also been released.



    Disclosure: Long TSCM

    Stocks: TST
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