We will be hosting an update call to our SHORT thesis on YELP. In short, YELP's business model is broken; we're already seeing signs of deterioration, which will only get worse in 2015.
Join us on Friday, February 20th at 1:00pm EST as we update our bearish thesis and why we see an additional 25%+ downside from here.
KEY TOPICS WILL INCLUDE
- Extreme Attrition Rate: majority of customers are churning off annually.
- Insufficient TAM: YP.com is not the low-hanging fruit, it's a pipe dream.
- Model Breaking Down: YELP’s reported metrics flagging concerning trends.
- 2015/2016 Consensus Estimates Unattainable: Barring another ill-advised acquisition.
Participant Dialing Information will be provided Friday morning.
Hesham Shaaban, CFA