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Ashford.com, (NASDAQ: ASFD) a Houston, Texas-based high-end specialty e-tailer that offers premium gifts online, saw its stock jump sharply in early morning trading Monday, reaching a high of $15.19 before dropping back into the $13.88 range. The stock closed at $13 on Thursday.
Ashford.com went public on September 24th, and closed its first day at $12.62. Since going public, the stock reached a high close at $24.75 on November 26th, but has receded to as low as $13 at the close of trading on December 23rd. Despite the drop in price, the company has said that traffic to its site is up seven times in 1999 from 1998.
