It's three months since I posted on trading in Ancestry.com stock. I heard a couple of comments that I was overdoing it, then a week ago a friend asked how the stock was doing. Here`s an update.
As shown by the graph, courtesy Yahoo, the stock traded around $14 until mid-February, recall it was initially listed at $13.50, then climbed for the next month to around $18, and has gradually settled back to $17. The last trade before Easter was at $16.61.
The climb that started in February coincided with release of a report on performance in 2009 showing the subscriber base surpassed 1 million in the flagship service; record revenues and net income; and expanded margins. The climb was likely sustained by the company`s prominent placement in the NBC Who Do You Think You Are TV program. The company also exited some markets, notably publishing, so as to focus on more profitable business lines.
Had you bought the stock at its opening price, $13.50, and sold at the most recent closing you would have a profit of 23%. I didn`t!