I was stunned that we changed our logo. And we changed it to what seems like a team of logos instead of one. That seems bizarre to me if you're trying to build a brand. It is also ironic since we are planning on making money on advertising, and we will be muddling our own brand.
As I write this the market will be open for another hour and the stock has been flat all day. It opened at $23.39 and is trading at $23.18 as I type away. I marvel at some of the data points like, no present P/E but a future P/E of 6.1: a seeming bargain. I think it would be interesting to interview the speculator that came up with that figure.
All the numbers on this first day are worthless. The price-to-cash flow of 2.61 combined with the projected P/E scream bargain, except for the small fact that the company
And if quality of management matters -- here is some inside information -- everyone I have dealt with, top to bottom, seems bright, hard working, and professional. As an independent contractor that does not write for a living and does not need this gig, I have been impressed.
The problem for Aol comes not from the talent or product, which are pretty well received in the market place, but from the continuous dilution on the ever expanding world wide web.
Update: AOL closed at $23.52 (down $0.15) and is up to $23.60 in after hours trading.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture and planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I do not have own any AOL stock at time of publication.