A Report Says Angie's List Might Sell Itself And Now Its Stock Is Surging

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.

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