ReachLocal (RLOC) continued its insanity today. This provided an opportunity to short another tranche of ReachLocal at a higher price.
Here are excerpts from my article on Seeking Alpha:
A Great Google Idea Once Again Leads to Investor Insanity
……It appears that bulls on ReachLocalReachLocal try to differentiate themselves by adding advertisement management systems and a suite of services.
The problem is that there are a large number of competitors in the business and they all take a similar approach to differentiation. The situation is akin to putting lipstick on a pig and stating that this pig is different from other pigs. ……..
