Shares of online business-to-business incubator Internet Capital Group (Nasdaq: ICGE) continued their almost unbelievable run on Monday, gaining 22-9/16 to 135 — a rise of more than 20 percent — after the company split its stock 2-for-1. Monday’s rise gives Internet Capital Group a whopping valuation of more than $34 billion.
Internet Capital Group may well be one of the biggest beneficiaries of the explosion in business-to-business e-commerce, but the company’s stock price may be getting ahead of itself. This stock has climbed 2,150 percent since the company went public in August, and the stock split does not change anything fundamental about the company. Investors who have been lucky enough to participate in this company’s amazing stock-market performance might want to take some profits at this point.