Stock soars 45% in less than one month, company announces new COO.
Shares of domain name company Communicate.com (OTC: CMNN.ob) have skyrocked 45% to $2.50 at the close of the markets yesterday. Less than a month ago the stock dropped to $1.72 after announcing dissapointing earnings. Shares are now just below their 52 week high of $2.65.
Communicate.com’s shares have been on a tear since announcing Geoff Hampson joined the company as its new CEO. Hampson invested $1M in the company when he joined. On Tuesday the company announced that Jonathan Ehrlich will be its new President and Chief Operating Officer. Ehrlich was previously Executive Vice-President, Online at Indigo Books & Music Inc. (Toronto:IDG.TO – News).
Unfortunately, other domain name stocks aren’t fairing as well. Marchex (NASDAQ: MCHX) closed at $9.04 yesterday, near a 52 week low. Shares were $12.20 on August 9 before announcing earnings. Shares of Tucows (AMEX: TCX) closed yesterday at $.98, well below their price before the company’s most recent earnings announcement.
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