Why LegalZoom Stock Crashed Today

LegalZoom stock is down. What's up with that? On the plus side, LegalZoom says it should still generate between $75 million and $85 million in positive free cash flow this year. At the stock's current price, this implies a price-to-free cash flow ratio of just 13.2. It won't take a lot of growth to justify a valuation that cheap. LegalZoom.com (LZ -24.90%) stock collapsed in early trading Wednesday, on reports of what some deemed a boardroom coup that sparked a series of downgrades from Wall Street analysts ...