WavePhore Shares Rocket
Shares of WavePhore screamed 80 percent higher Tuesday after the computer content broadcaster revealed e-commerce plans for a "broadcast mall."
WavePhore (WAVO) is kicking off its WaveTop Store electronic commerce channel with nine merchants. Its so-called "broadcast mall" will be available to consumers via TV signals received for free by computers equipped with antennas.
Shares rocketed 6 1/16 to 13 13/16 by midday Tuesday.Consumers can get discounts and place orders for merchandise and services with no Internet connection required.
However, clearance of transactions will be completed via consumers' Web connections to respective vendors.
The move extends WavePhore's content package beyond news and entertainment.
"The primary benefit is an improved online shopping experience," Thom Kozik, executive vice-president and general manager said in a press release. "For our vendors, this channel represents a new way to merchandise their products without the limitations of slow connections or the costs of additional infrastructure."
Retailers include Godiva Chocolatier, The Wall Street Journal, Barnes & Noble, Audio Book Club, CompUSA, The Fragrance Counter, NextCard, Shop-at-Home, and VideoMaker magazine.
WavePhore also inked a deal with Wave Systems (BB: WAVX) to use Wave's Embassy e-commerce content metering and payment system.
Written By Steve Gelsi