We are short shares of QuinStreet, Inc. Please click here to read full disclosures.
We are short shares of QuinStreet, a web-1.0 adtech firm that acts as a middleman between online advertisers and niche web sites. These niche sites attract visitors (leads) who are shopping for, say, a new credit card; QuinStreet acquires those visitors and delivers their data or eyeballs to advertisers, like credit-card companies, earning a fee along the way.
For much of QuinStreet’s eight-year history as a public company, its stock traded at less than half of its IPO price, as investors realized that QuinStreet’s outdated business model is unlikely…