TheStreet.com (TSCM) hit a seven-year high today at $13.72. It is hard to point to one factor driving the stock. Jim Cramer is as popular as ever, Wall St. probably is looking for a strong third quarter.
But, the reason for the move up in the shares could simply be an acknowledgment that online content has become very valuable. The premium that News Corp (NWS) paid for Dow Jones (DJ) is some indication of that. NBC recently bought cable company Oxygen.
There is increasing speculation about the value of private online content sites. CBS has recently acquired video financial site WallStrip.com. NBC bought news aggregation site Newsvine.
The cycle for TheStreet has been a long one. Like many other internet businesses, it was punished in 2000. The beating lasted a long time, but TSCM had company. Shares in CNET collapsed and really did not come back until 2004.
With a forward P/E of 20, TSCM is not expensive, even at its new high.
Douglas A. McIntyre. McIntyre was a member of the board at TSCM until 2005.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
