A Report Says Angie's List Might Sell Itself And Now Its Stock Is Surging (ANGI)
Shares of Angie's List were up as much as 22% in pre-market trade on Wednesday after a report by The Financial Times' Ed Hammond said the company has hired bankers to, "help it explore strategic options, including a possible sale of the business."
Angie's List in an online review service, sort of like Yelp, but requires members to register and pay a yearly fee for the service.
<span>Earlier this week, </span><span></span>Angie's List announced<span> a new $85 million credit agreement with TCW Asset Management.</span>
Year-to-date, shares of Angie's List, which has been the subject of negative commentary from short-selling blogs like Citron Research in the past, are down 57% excluding Wednesday's pre-market rally.
Over the last year, the stock has fallen more than 70%.
Here's the ugly chart of Angie's List shares this year.
<img src="http://static2.businessinsider.com/image/542bcfbb6bb3f7e5368eceaa-925-221/screen-shot-2014-10-01-at-5.53.19-am.png" border="0" alt="ANGI">
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