Angies List Inc (NASDAQ:ANGI)
Angie’s List, Inc. (ANGI), a local services consumer review service and e-commerce marketplace yesterday announced that they will be merging with IAC’s Home Advisor. The merged company will be called Angi Homeservices Inc. After the merger the new company will be the industry leader in a $4000 billion domestic home services market.
Angie’s List, Inc. Chairman and Co Founder Comments
Said Thomas R. Evans, Chairman of Angie’s List, “After completing our comprehensive strategic review, we have found a true partner in IAC and HomeAdvisor that we believe will create tremendous shareholder value for Angie’s List. Together, we uniquely benefit from the powerful combination of two market leaders, who, by joining forces, can drive incredible innovation, customer satisfaction and category growth.”
“Since 1995, Angie’s List has set the bar for enabling quality home services experiences for millions of consumers and service pros. I’m thrilled that IAC and HomeAdvisor share our vision for what’s possible when it comes to the home services category’s massive potential,” said Angie Hicks, co-founder and CMO of Angie’s List. “Together, we will relentlessly elevate home services experiences for an even broader base of customers.” PR Newswire
ANGI Technical Analysis
Angie’s List Daily
ANGI opened trading yesterday at $5.90 which was up from the previous day’s trading close of $5.88. ANGI closed trading yesterday at $5.89 and spiked up after market to $8.39, equivalent to a 42% increase from the closing price. Taking a look at the daily chart we can see that the last time ANGI traded above these levels we have to go back to the week of December 27th, 2016 when it traded at $8.62.
Taking a closer look at the daily chart we can see that before the spike up ANGI had been in an overall downward trend dating back to December 8th, 2016 when it traded at $9.35. ANGI has a float of 45.6 million shares and traded below the normal daily trading volume on Monday.
For trading purposes, I would like to see ANGI open trading on Tuesday above $7.50 or the VWAP and if it does I would be looking to take a long position at the bell. My stop order would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Angie’s List, Inc. operates a local services consumer review service and e-commerce marketplace in the United States. It allows consumers to research, shop for, and purchase local services for home, health, and automotive service needs, as well as to rate and review service providers in markets.
The company also sells advertising to service providers through its call center sales personnel; and on its Website, as well as through mobile applications. In addition, its e-commerce marketplace solutions offer members the opportunity to purchase services through its marketplace from service providers. The company was formerly known as Brownstone Publishing, LLC and changed its name to Angie’s List, Inc. in April 2010. Angie’s List, Inc. was founded in 1995 and is headquartered in Indianapolis, Indiana.