Wold writes in a research note that while Bidz.com is “uniquely positioned to offer consumers a discounted way to purchase jewelery,” he adds that “we cannot assume that Bidz.com will be immune from an overall slowdown in consumer spending.”

Wold notes that he had cut numbers on the company just last week, based on his view that the company was being hurt by worsening economic trends. But he says trends have already declined further.

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