Shares of Audiohighway.com (NASDAQ: AHWY) were up sharply in trading on Thursday, based on news that it is offering free voice mail and a new long distance telephone service as part of its audio-based Web site. Shares jumped from a close of $9.83 on Wednesday to about $12.00 in intraday trading on Thursday.
Audiohighway.com is an online information and entertainment company that has built a library of free audio content for consumers on the Internet. The company went public in January 1999 at about $13 per share. The company reported revenues of about $1 millon for the nine months ended September 30, 1999, although third quarter revenues were $613,000. The stock traded as high as $38 in April and has been on a downward trend for the last several months. Its move into the $12 range today brings it back to where the stock traded in early November.