A new investor has been buying shares in TheStreet.com amid changes at the financial news company, reports Keith Kelly of the New York Post.
Kelly writes, “Investor Cannell Capital has been snapping up shares of the stock once held by Raging Bull Capital and now has amassed the second-largest holding in the company — behind only Cramer — with about 9.9 million shares.
“In a March 31 letter to TheStreet Chairman Larry Kramer, J. Carlo Cannell said he wants the company to appoint to its board Al Angrisani, a turnaround expert who authored the book, ‘Win One for the Shareholders!‘
“While Cannell said he ‘applauds’ the board’s recent turnaround efforts, he still wants his man to be seated by Dec. 31. He wants a response by April 11.
“TheStreet CEO David Callaway said, ‘We’re always happy when a longtime shareholder buys more shares and applauds our progress.'”
Read more here.
