Local.com Corp. (NASDAQ: LOCM) is flying in price and in volume this morning. This small internet search player, which specializes in local search, is generally thin volume. The 122,000 shares compares to about 58,000 for a full day on average. The near-19% gain to $3.95 gets it closer to the top of the $1.02 to $4.30 52-week trading range. Keep in mind this one has a tiny market cap of only about $56 million and that is after today’s rally. The company raised guidance is going to be profitable:
- Revenue of $13.4 to $13.7 million, above the high end of its prior guidance of $13.2 million.
- Adjusted Net Income of $700,000 to $1,000,000, or $0.05 to $0.07 EPS, above the high end of prior guidance of $400,000, or $0.03 EPS.
The last time this much volume was seen was on both May 6 and May 7, and late in April before that. -Jon Ogg
Posted 11:05 AM EST