Forbes.com Says SELL your Audible Stock!
While browsing the Forbes Website, I stumbled upon an interesting little article Title ‘Podcasting, A Growing Threat to Audible’. This title was intriguing but not nearly as much as the article was to me. From what I gather, a stock research group did a study and was suggesting a “sell” rating for people owning the Audible stock.
Standard & Poor’s Equity Research reiterated a “sell” rating on Audible (nasdaq: ADBL – news – people ), noting that “podcasting constitutes a growing threat” to the company, “particularly its Periodicals and Radio and TV categories.”
I guess the announcement that iTunes would support podcasting was a big blow (in the researchers minds) to Audibles business model and that podcasting could potentially ruin that company.
Read it all on The Forbes.com Website
