Shares of online retailer Onsale (Nasdaq: ONSL) climbed nearly 36 percent on Friday, gaining 6-5/8 to 25-1/4 after rumors began to circulate about the possibility of the company being acquired by Amazon.com.
Before getting overly excited about this possibility, investors would be wise to consider what happened to Beyond.com (Nasdaq: BYND) stock on June 24th. Shares of Beyond.com gained 7-1/4 to 32-7/8 that day after rumors began to circulate that Amazon.com might buy the online software superstore. Obviously, that deal hasn’t happened, and many people who bought the stock on the rumor have lost money. Shares of Beyond.com closed Friday at 27-13/16.