Need To Be a Geek To Understand Geeknet?

Geeknet (GKNT) made a new 52-week low today (02012.05.01) of $13.56. I'm clueless as to why GKNT has morphed into a bad investment for us. I like what Geeknet is doing with Slashdot. Today the company announced Slashdot's launch of its "Business Intelligence Website for IT Professionals." Seems like there should be a demand to this type of resource. I agree with Slashdot's assessment that the "field of business intelligence and analytics" is "white-hot." A month earlier Slashdot launched Slashdot TV, which is a "business-to-business technology video channel."

In preparing this posting I came across something that I posted a year ago. From Geeknet's 1Q'11 conference call. In a nutshell... (a) Kenneth Langone made a point to remind us that he (and two others) control 35+% of the stock, so they have a vested interest in the company. (b) He considers the company's "runway" of opportunities to be "limitless" but the company needs to execute. (c) He considers his management team to be one of the strongest he has ever had (he co-founded Home Depot).

Geeknet reports 1Q'12 results on May 3rd.

Back on Pi Day 02012, The Benchmark Company initiated coverage on GKNT with a 'Buy' rating. GKNT closed at $15.10 on 02012.03.13 (the day before Pi Day 02012).

On 02012.05.01, at it's current price of $13.76, GKNT has a PSR (Price Sales Ratio) of 0.78.