WavePhore Up 9%; Investors See Potential
In Co.'s Pdt
By Brian Steinberg
NEW YORK (Dow Jones)--Shares of WavePhore Inc. (WAVO) surged
forward Monday for a second-straight trading day as investors learn how the
company is poised to reap the rewards of using TV signals to transmit data.
WavePhore, a Phoenix provider of high-speed data delivery for real-time
news services, first unveiled its WaveTop product in February as a
transmission system that can deliver information such as stock quotes and
downloadable software using a TV signal.
But the technology that allows WavePhore to do that received greater
attention last week when Microsoft Corp. (MSFT) and Oracle Corp.
(ORCL), among other firms, unveiled appliances that connect to the television
and bring in information using the vertical blanking interval, or available space
on a TV signal.
Last week's announcements, in effect, endorse "and make people more aware
of WavePhore's technology and the agreements they have," First Albany
Corp. analyst Joel Krasner said.
WavePhore has an agreement with the Public Broadcasting System to deliver
its WaveTop information via signals used by that network's TV stations.
"The VBI (vertical blanking interval) is getting a lot of attention and publicity,"
noted Krasner, "and that is bringing attention to WavePhore, which really
pioneered this transmission mode."
Shares rose as much as 9% before settling back somewhat. Recently, the
shares were up 3/4, or 7.1%, to 11 3/8, on heavy Nasdaq volume of
1,361,900 shares. Average daily volume is 127,500. On Friday, the stock
surged 16.4%.
Glenn Williamson, WavePhore's chief operating officer, said the company has
released no recent news that might provoke such movement, but did suggest
that investor recognition of WaveTop may be carrying the shares.
"The company has just been doing its normal investor relations, and all of a
sudden, we've noticed some pretty heavy volume," Williamson said. "The bulk
we can attribute to people realizing what it is that we do and showing some
interest in the company."
>> I guess this is the news. I am expecting it to sell back down for now. But I will continue to hold until we hear something more substantial. Regards, Jeff<< |
