A couple weeks back, I mentioned some stocks to pay attention to if you’re interested in investing in businesses that play the comparison engine game. One of those stocks was GSI Commerce (NASDAQ: GSIC).
The company announced Q4 2005 results after the bell on Wednesday, February 15.
On February 15 (before the earnings were released), the stock opened at $15.02 and closed at $15. Volume was about average at 287,900 shares traded.
On February 16 (with the earnings report out), the stock opened slightly lower at $14.50 and droped to $13.77 by the close. Volume was heavy at 3,318,880 shares traded.
On February 17 (today), the stock opened at $13.76 and closed at $15.19 (up 10.31%). Volume was again heavy at 1,025,145 shares traded.
This activity isn’t that odd, but in most cases you see people sell on the rumor (that the company will not meet expectations) and then buy on the news (because the stock has been oversold).
In this case, people sold on the news and then the next day bought on the exact same news.
BTW, in the investment opportunities post, I left out ValueClick (NASDAQ: VCLK) which owns PriceRunner and Marchex (NASDAQ: MCHX). I also left out a number of small private companies like Become.com, Smarter.com, FatLens, and Dulance.
Related Posts:
Investing in Shopping Comparison Engines – January 30, 2006
