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Sweeping layoffs are apparently in effect over at Jim Cramer’s TheStreet.com site, according to this story. While not a particularly pleasant experience, the layoffs are cost-cutting measures which should help TST‘s bottom line. Technically, the issue with the stock is that it has vastly underperformed the broad market since the March 2009 bottom. Beyond that, the stock has been unimpressive since forming a low last November.
Recently, though, the volume pattern has indicated signs of accumulation, with strong buyers popping up over the past few months. In addition, price has recaptured levels not seen since last September. Over the past week, the stock has formed a doji string along the declining 200 day moving average, forming what could be argued as a bull flag. A declining 200 day m.a. is usually a sign that more heavy lifting awaits bulls eager for a turnaround. Nevertheless, the signs are there to watch for a major bearish to bullish reversal in this small-cap stock (in which I currently have no position). To my eye, holding above $2.05 on a closing basis is crucial for the reversal thesis.
Moreover, you are talking about a fundamentally-sound firm that is not going bankrupt anytime soon, with a current ratio of roughly 2.62. I have seen quite a few value investors pound the table on how cheap TST has been for a while now. If this broad market bull run persists through the next few quarters, TheStreet.com is precisely the type of play that will reward them for their patience.
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That article sucks, I don’t want to know who is staying, I want to know who is laid off. I don’t have a running list of all employees….
You would!
As long as they didn’t fire Helene Meisler, I might keep my subscription. Then again, she is starting to aggravate me, hasn’t been able to say anything positive about the market for the last two months.
Also, I wonder if the fired employees were told “here’s a big b-b-b-b-b-b-b-b-b-b-b-b-boo-YAAAAAH and GTFO to you!!!!”
Jim Cramer 3.26.12 monologue: “I would call investors… not invested this quarter too cautious… not prudent.”
Lol. I put Cramer in the Santelli corner when he told Hannity in an interview: “I’m a reporter, haven’t invested since the 90’s.”
While this probably isn’t totally accurate, his credibility is that of a comedian in my book. Not to say he’s not entertaining.
Looks like “his” employees may have not believed in the “big lie” HFT Q1 build up either??? ?
I’m guessing this would be a great time to ask for a raise…
🙂
should be noted : never have I collected a paycheck from -TSCM-
edit:TSCM(old ticker)
-TST-
Don’t even get me started on the subject of ‘Martha’ and her perfect rose gardens..
(long standing joke around my humble abode)
I didn’t even know they had a stock. I hope it goes to 0.
I knew they were publicly-traded, but I also had to do a double-take when I saw they were TST, not TSCM! (Man, they’ll let anybody have a three-character symbol these days…)
Ha! Great picture to go with your story. I never knew why Cramer liked Ms. Perfect Martha so much 🙂
Correction meant to say great picture to go with the “Blog”