Go2Net has been the top-performing stock of the first quarter, and its rise continues to astound. The company just keeps signing more e-commerce deals and watching its stock soar. On Monday, the company announced a marketing deal with online gift store 911gifts.com and then saw its stock climb 32 points to an all-time high of 179-1/2.
The stock is 10-1/2 points higher in early trading today, after Go2Net announced a marketing deal with Gourmet’s Choice Coffee (OTC: GMCH).
This is momentum investing at its worst or best (take your pick), with the stock rocketing significantly on any news at all. Keep in mind that the 52-week low for this stock 6-3/8, and the stock is now about 3,000 percent higher than that. Microsoft co-founder Paul Allen’s investment in the company has greatly helped the stock, but you have to wonder how long this one can keep climbing.