Cyberplex decimated by Yahoo/Bing and Q4 Guidance restatement

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By , January 11, 2011

Cyberplex.com (TSX:CX) is Canada’s largest CPA network with a fairly blue-chip customer base including RBC and Jaguar along with net giants like eHarmony and Netflix. They’ve been pretty aggressively growing revenues and earnings over the past couple years and for awhile I counted myself a shareholder. I sold my position last year when they announced their acquisition of Tsalvo (which was once upon a time Geosign). It was highly dilutive to shareholders (expanding the shares outstanding from roughly 80M to 120M+) and I’m not a fan of traffic arb plays because the earnings (while often explosive) are extremely volatile. Read more »

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