Stock Watch: Firstwave More Than Quadruples After Microsoft Deal

Shares of Firstwave Technologies (Nasdaq: FSTW), a small company that develops Web-based customer relationship management systems, more than quadrupled Monday after the company announced that Microsoft (Nasdaq: MSFT) has chosen Firstwave’s Netgain Sales as the customer relationship management (CRM) solution for the Microsoft embedded systems group. Firstwave stock climbed 6-3/4 to 8-5/8 after the announcement, a staggering gain of 360 percent.

The volume of more than 16 million shares changing hands was more than three times the five million shares outstanding, meaning shares were being exchanged at a furious pace. On normal days, the stock’s volume is in the thousands. The company had a market value of less than $10 million when the markets closed on Friday. It was worth $44.5 million after the markets closed on Monday.

However, it’s worth noting that Microsoft Bill Gates, who recently became the first $100 billion man, can still buy Firstwave Technologies with his spare change, if he had the inclination.

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