Angie's List (ANGI): An Unexpected 'Gift Horse'

Angie's List (ANGI) should open sharply higher after rejecting the IAC/InterActiveCorp bid. We would book profits.
By Bruce Kamich ,

NEW YORK (TheStreet) -- Earlier this month, we highlighted the base pattern on Angie's List (ANGI) - Get Report and recommended buying a dip or strength over $8, both of which happened. With the news this morning that the company had rejected a bid from IAC/InterActiveCorp (IACI), ANGI opened sharply higher, and we would book profits.

Jesse Livermore, the Great Bear of Wall Street, is known to say that whenever you get an unexpected "gift horse" in the direction of a trade, you should take it.

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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