TheStreet.com (TSCM) shares are sliding this afternoon in the wake of a post-earnings conference call with investors which raised questions about the status of contract negotiations with co-founder Jim Cramer.
Earlier today, the company reported Q4 results right in line with analyst expectations. On its conference call, the company repeated its policy of not giving specific financial guidance, other than to say it expects net margins and gross adjusted EBITDA in 2008 will be higher than in 2007.
The company did acknowledge that it could be affected by a weakening economy. "As we all know, the economic environment has grown more challenging over the past few months, and there is great uncertainty as to how weak economic conditions might become and the impact this might have on our advertisers, subscribers and visitors to our network of sites," CFO Eric Ashman said on the call.
Meanwhile, the AP reported yesterday that Cramer sold 30,000 shares of stock under a prearranged trading plan.