Love Your Mamma

Shares of internet search engine Mamma.com (MAMA-NASDAQ) rose 80.6% today after the company announced the beta launch of its new video search engine.

Mamma users are now able to find, explore, and view millions of broadband videos from a wide range of topics including TV shows, movies, music, and news events. The Pixsy Media Search Platform provides Mamma.com with technology that gives users the ability to search for videos from their favorite providers across the web including YouTube, Revver, StupidVideos.com, AddictingClips.com, Blastro, BusinessWeek, Grouper, MetaCafe, Reuters, Sharkle, Roo Media, USA Today, and many more. Market Wire

Mamma.com shares rallied sharply in 2004 after Billionaire Mark Cuban disclosed a stake in the Montreal-based company. Cuban dumped the shares abruptly after the company completed a PIPE transaction that did not sit well with the mercurial owner of the Dallas Mavericks. The stock has been largely shunned since Cuban threw MAMA under the bus.

Mamma.com recently settled a class action lawsuit stemming from manipulation by Canadian stock promoters. Investors chasing the stock today were also apparently willing to look past the company’s recent earnings shortfall that depressed the shares last month.

Citadel Investment Group LLC, the largest institutional shareholder, was the real winner today. The gains in their 282,161 share position might ensure a last minute upgrade at the holiday party.

Chump change.

Comments:

<< Back to main