Shares of Angie’s List were up as much as 22% in pre-market trade on Wednesday after a report by The Financial Times’ Ed Hammond said the company has hired bankers to, “help it explore strategic options, including a possible sale of the business.”
Angie’s List in an online review service, sort of like Yelp, but requires members to register and pay a yearly fee for the service.
Earlier this week, Angie’s List announced a new $US85 million credit agreement with TCW Asset Management.
Year-to-date, shares of Angie’s List, which has been the subject of negative commentary from short-selling blogs like Citron Research in the past, are down 57% excluding Wednesday’s pre-market rally.
Over the last year, the stock has fallen more than 70%.
Here’s the ugly chart of Angie’s List shares this year.