QuinStreet rebounds on prelim results; co rebukes short seller

Quinstreet

12/04/2018 15:20

** QuinStreet  QNST.O  at top of S&P 1500 index  .SPSUP  on
Thurs, recouping most of prior session's loss after online
marketer releases Q3 preliminary results and rebukes short
seller
    ** After the bell Weds, online marketer said expects to
report revenue of more than $115 mln, representing >45 pct
growth yr/yr
    ** Compares to consensus of $91.86 mln by 2 research
analysts who have issued estimates
    ** QuinStreet also said claims by Kerrisdale Capital
Management "are inaccurate, out-of-context and exaggerated, and
their conclusions about our prospects are demonstrably wrong."
    ** QNST fell ~18 pct in heavy volume (6x the 30-DMA avg) in
yesterday's session after Kerrisdale said it was short the stock
    ** Shares bounced 22 pct to as high as $12.40 on Thurs.
Recently up 19 pct on 1.5x the 30-DMA volume
    ** With today's move, stock up 44 pct YTD, and has tripled
over past 12 mths

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))