Shares of online technology network CNET (Nasdaq: CNET) soared more than 17 percent on Friday, gaining 6-1/16 to 41-1/2 after the company received positive coverage from Thomas Weisel Partners. Thomas Weisel gave CNET a buy rating, citing the company’s strong combination of technology-related content and e-commerce offerings such as shopping-comparison services.
While most online content sites are buried in red ink, CNET’s mix of content and e-commerce has made it a profitable company. CNET’s overhead costs related to e-commerce aren’t large because the company is generating leads for retailers, rather than selling and shipping its own products.
CNET stock has been hit hard recently and is still trading at about half of its 52-week high. At this price level, the stock looks like it has a lot of room to grow and could be one of the more secure e-commerce plays for investors.