Tree.com (TREE) Skyrockets 44% Today And 125% Since Our Buy Call
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Tree.com (Nasdaq: TREE) is up over 44% today and 125% since Jason Raznick told Barron's that investors would enjoy a nice return in the next few months if they picked up shares of TREE back in February.
Earlier today, Tree.com blew out the Q1 EPS view by $0.33.
Jason Raznick made his remarks to Barron's after TREE CEO, Doug Lebda, purchased 935,000 newly issued shares of restricted stock in Tree.com, which is LendingTree's parent for $3.91 a share. Tree.com is trading at around $9.11 today.
Below is what Raznick told Barron's and you can also see the entire article here.
"It's nice to see the CEO showing some conviction in the company and putting his money into the shares," says Jason Raznick, vice president of StreetInsider.com. "It also may be a way for the company to raise a little money through the shares."
Raznick says that despite the turmoil, investors would do well to watch the stock in the near future.
"I think the stimulus package is going to get people more interested in buying homes again," he says. "Likewise, a lot of adjustable-rate mortgages are expiring. In the past people would call their local mortgage broker, but now so many of them have gone out of business that they go to a site like LendingTree.com instead. So LendingTree.com really benefits from all this consolidation."
He also notes that Lebda's position makes his purchase interesting.
"He sees all the internal metrics and is probably taking note of the historic lows in rates," Raznick says. "So he might be seeing that traffic to the site has increased through all this. If you believe that the government will be able to get people buying houses and refinancing again, this is a great play on that."
Earlier today, Tree.com blew out the Q1 EPS view by $0.33.
Jason Raznick made his remarks to Barron's after TREE CEO, Doug Lebda, purchased 935,000 newly issued shares of restricted stock in Tree.com, which is LendingTree's parent for $3.91 a share. Tree.com is trading at around $9.11 today.
Below is what Raznick told Barron's and you can also see the entire article here.
"It's nice to see the CEO showing some conviction in the company and putting his money into the shares," says Jason Raznick, vice president of StreetInsider.com. "It also may be a way for the company to raise a little money through the shares."
Raznick says that despite the turmoil, investors would do well to watch the stock in the near future.
"I think the stimulus package is going to get people more interested in buying homes again," he says. "Likewise, a lot of adjustable-rate mortgages are expiring. In the past people would call their local mortgage broker, but now so many of them have gone out of business that they go to a site like LendingTree.com instead. So LendingTree.com really benefits from all this consolidation."
He also notes that Lebda's position makes his purchase interesting.
"He sees all the internal metrics and is probably taking note of the historic lows in rates," Raznick says. "So he might be seeing that traffic to the site has increased through all this. If you believe that the government will be able to get people buying houses and refinancing again, this is a great play on that."
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