06 December 2009

ACOM (Ancestry.com) trades up

Reversing its slide of the previous week ACOM closed on Friday with a trade at $13.59, only one penny shy of its high for the week.Most of the day's trading was slightly above the initial $13.50 strike price.

Tuesday saw most of the week's gain which started at midday on Monday. ACOM opened at $13.15 on Tuesday and closed at $13.55. Trading was generally light and no insider trading was reported during the week.

What could account for the rise? Could it be the speculation that Google wants to acquire Ancestry.com, reported by Dick Eastman at http://blog.eogn.com/eastmans_online_genealogy/2009/12/google-to-acquire-ancestrycom.html? People not wanting to miss the possible ride look to climb on board. It wouldn't be the first time people knowing of an article coming out took advantage either.

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