"Market Pulse
Last Update: 12:02 PM ET Jan 30, 2001:
Tuesday, January 30, 2001
IATV spikes on heavy volume
--12:02 pm - By Michael Baron
ACTV (IATV: news, msgs) is surging $1.50, or 27.6 percent, to $6.94, on heavy volume of 1.52 million shares. Average daily churn is 542,300. A company spokesman said the New York media technology firm had no news Tuesday. Catherine Skelly, an analyst with Gruntal & Co., said there wasn't any concrete reason for the move - referencing the old saw 'more buyers than sellers' sarcastically - before saying that the shares were beaten down unfairly during the sell-off in technology sector. "It's good value down here," said Skelley, who has an intermediate-term "outperformer" rating on the stock. "This is a well-capitalized company that, in a macro sense, has a huge market opportunity and plenty of funds to carry it through to profitability." Skelley, who has a 6-month price target of $15 on the stock and an 18-month target of $18, also noted the company has gotten "good exposure" lately."
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