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BUSINESS BRIEFS.(TO THE POINT)
INTERNET
Travelzoo spikes on short squeeze
The Internet travel site surged 28% to 88.48 on over 3 times average volume as short-sellers whose strategy had been foiled by Travelzoo's run-up were forced to buy shares. About 80% of the firm's publicly traded shares were sold short in the month ending Oct. 15. Short-sellers bet on a stock's price drop by borrowing shares of a company and then selling them. The short-sellers then buy the shares back at the cheaper price and return them to the lender. If the stock rises, they buy shares to cover their position.
DoubleClick up on sale possibility
The provider of Internet ad services rose 12% to 7.12 the day after it disclosed hiring investment bank Lazard Freres to explore strategic options, including a sale. Last week, ...
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