We are closing out our TRLA short idea with a (-62.3%) loss following the company's acquisition by Zillow. Many, if not most elements of our short thesis on TRLA did indeed play out: in almost every way the...
READ MORE >“I’m wide awake. I’m wide awake. Wide awake. I’m not sleeping. Oh, no, no, no….. If I could, you know I would. If I could, I would. Let it go….” U2, “Bad”, The Unforgettable Fire In this wonderful song...
READ MORE >Approximately two months ago we published a report backed by a review of more than 2,000 listings in 50+ markets on Zillow (“Z: Look at the Listings, the Zillow Ecosystem Might Not Be What You...
READ MORE >We recognize that there are rumors in the market that Zillow could be in talks to acquire Trulia. We will have more extensive comments shortly, but we wanted to provide you with some insight on what the agent community...
READ MORE >“You can observe a lot by watching”- Yogi BerraAs Zillow shares climb to levels we previously never thought possible (amazingly in the absence of any material new news) we have spent...
READ MORE >Was it good enough? Time and time again that was the question we were attempting to answer in our conversations with investors after Zillow reported 1Q14 results and provided initial 2Q14 guidance yesterday. The trading action after hours...
READ MORE >Make no mistake, TRLA is a stock that trades ENTIRELY off of operating metrics and relative valuation. For now, there are enough investors willing to value the company off price/revenue multiples so long as TRLA delivers...
READ MORE >Well, now we know why…. In early December, TRLA announced a convertible notes offering which was eventually upsized to $200 million. The notes convert at $35.93/share, or roughly 2% below where TRLA shares closed yesterday. The timing of the notes offering...
READ MORE >It all sounds so intoxicating doesn’t it? To company management (and presumably bulls on the stock) Trulia is a leading rapidly growing mobile based residential real estate search platform integrated with a cloud based CRM system. How many investor...
READ MORE >It all sounds so intoxicating doesn’t it? To company management (and presumably bulls on the stock) Trulia is a leading rapidly growing mobile based residential real estate search platform...
READ MORE >“There’s something brewing here that really makes me think that the people in this room need to rethink their role. Some of you[MLS representatives] may be in denial. You don’t know that there’s a...
READ MORE >“There’s a party going on right here, a celebration to last through the years….”Kool & the GangIn retrospect it all seems so simple doesn’t it? Let’s play a short game of check this...
READ MORE >It seems to happen all of the time in growth industries, particularly among small and mid-cap companies. A leader in said growth industry goes public, creates a successful track record, which engenders investor enthusiasm about the company and...
READ MORE >SELL/SHORT
$230
SELL/SHORT
$55
LONG
$70
SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0