IAC - At an All-Time Low Is ANGI Homeservices a Buy?
More than two years ago, when IAC/Interactive Corp (NASDAQ: IAC) merged Homeadvisor with Angie's List to create ANGI Homeservices (NASDAQ: ANGI), it looked like a clever move.
The media conglomerate behind Match Group, Vimeo, and other internet properties saw opportunity in creating a home services empire by combining the fast-growing Homeadvisor with Angie's List, which was popular but struggling at that time.
Despite IAC and investor hopes, that opportunity has yet to pan out. Today, the stock is hovering at a post-merger low at less than $8 a share following a disappointing second-quarter earnings report.