Stock Watch: New Clients Boost Webstakes

Shares of Webstakes (Nasdaq: IWIN), which promotes e-commerce businesses through sweepstakes, giveaways and other special offers, soared nearly 39.5 percent on Monday, gaining 7-1/4 to 25-5/8 after the company announced that it has signed up six new clients: BestSelections.com, CareerPath.com, Classified Warehouse, Mediconsult.com, TheNet’sBest and SportsNuts.com. This development follows last week’s announcement that Flooz.com, Go.com, Healtheon/WebMD, Mattel, MP3.com, and SmartMoney.com have become Webstakes customers.

It has been quite a turnaround for Webstakes’ stock, which went public at $14 a share in September and traded as low as 5-15/16 before staging a dramatic recovery in recent weeks. Webstakes is building a pretty impressive client list. Other customers include NBC, Autobytel.com, Sportsline.com and Citibank. Both NBC and Excite@Home are investors in Webstakes. With the cost of customer acquisition a major concern for pretty much every online business, Webstakes should continue to see its client list grow.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

How often do you update your passwords?
Loading ... Loading ...

E-commerce Times Channels