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Did PSA just buy the Pit.com???

joestalinjoestalin Posts: 12,473 ✭✭
in Trading Cards & Memorabilia Forum
The pit.com has been sold, but doesn't say to whom, but there is a PSA holder on the front page......who would want this mess?

JS

Comments

  • THEBULLPENTHEBULLPEN Posts: 103
    I had that exact same thought. Maybe PSA can't say anything publicly until they release earnings in January, but I agree what good would it serve PSA. Unless they are getting for next to nothing, they could just as easily build that marketplace themselves from scratch and probably do a better job.
    THE BULLPEN
  • Lothar52Lothar52 Posts: 2,664 ✭✭✭
    Well all I know is that Topps really $crewed the pooch on ole pit.com...... they absolutely killed the joint.

    loth
  • IJustLoveCardsIJustLoveCards Posts: 1,345


    << <i>I had that exact same thought. Maybe PSA can't say anything publicly until they release earnings in January, but I agree what good would it serve PSA. Unless they are getting for next to nothing, they could just as easily build that marketplace themselves from scratch and probably do a better job. >>



    Actually its the opposite, A public traded company (CLCT) must announce any purchases public or private as soon as a deal has been agreed upon. It is part of the Full Disclosure rules set forth by the listing regulators.

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  • kennylowkennylow Posts: 277
    Lothar - what did Topps do?
  • THEBULLPENTHEBULLPEN Posts: 103
    I wasn't sure, I know there are some quiet period issues and whatnot. Just a guess on my part, you obviously know more about this stuff. I would just love to know who bought it and moreover, why?

    I was an early Pit adopter, back when Topps was just an investor and before the bubble burst (the Pit1 / Pit2 days). I agree Topps couldn't have screwed that one up any worse. They should have long ago merged thePit with eTopps and broadened the product offering there so you could basically trade any graded card. Though, that would have taken a lot of cash and vision for the future I know.
    THE BULLPEN
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