Ancestry.com (ACOM) Shares Slump as Analyst Considers US Pricing Promotion
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Price: $23.77 +1.11%
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Ancestry.com (Nasdaq: ACOM) are down more than 9 percent Tuesday afternoon following a research note from Wedge Partners' Ryan Hunter earlier.
Hunter says Ancestory.com is currently running a pricing promotion for its US subscribers, however argues the campaign is not the result of increased competition or any other external factors. The analyst believes this promotion is not factored into management's outlook. Hunter sees the campaign having a "minor negative impact" on Ancestry.com's third-quarter and FY11 results.
The stock last traded at $27.32.
Hunter says Ancestory.com is currently running a pricing promotion for its US subscribers, however argues the campaign is not the result of increased competition or any other external factors. The analyst believes this promotion is not factored into management's outlook. Hunter sees the campaign having a "minor negative impact" on Ancestry.com's third-quarter and FY11 results.
The stock last traded at $27.32.
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