Volume Spike Analysis: Local.com (LOCM)

Posted in General 
July 15th, 2009

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

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