Seeking Alpha

A day after jumping on an Oppenheimer upgrade, Angie's List (ANGI -6.6%) is returning most of...

A day after jumping on an Oppenheimer upgrade, Angie's List (ANGI -6.6%) is returning most of its gains thanks to a downgrade to Hold from Canaccord. The firm now doesn't expect Angie's to turn a profit until 2015 (it previously forecast 2014 profits) due to high sales/marketing spending and slightly higher churn. It also thinks a huge short interest (~25% of float) and recent VC distributions (related to Angie's lockup expiration) will add to near-term volatility.
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