According to Barron’s, by way of SeekingAlpha, PlanetOut is running out of cash and the stock is down more than 31% in the last two days of trading.
With the ongoing slide in the stock – on Monday, PlanetOut shares fell 17 cents to 98 cents – the company’s market cap is down to a paltry $17.3 million. (CFO Dan) Miller notes that the company’s Gay.com URL is “incredibly valuable.�? That may be true; what’s not clear is whether the company can raise enough cash to avoid having the site and the rest of PlanetOut’s assets sold off in a Chapter 11 fire sale.
No related posts.
{ 1 comment… read it below or add one }
Manhunt.net is biting at PlanetOut’s heels. Here is my latest interview with ManHunt’s chairman of the board, Jonathan Crutchley :
http://onlinepersonalswatch.typepad.com/news/2007/04/manhunt_chairma.html
{ 1 trackback }