While Global Sports stock was dumped, the shares of its new partner, sporting goods retailer Sports Chalet (Nasdaq: SPCH), climbed dramatically. Sports Chalet stock was carried by the news that it is launching an online store at SportsChalet.com that will be operated by Global Sports. Shares of Sports Chalet climbed more than 24 percent, rising 1-1/4 to 6-3/8.
What’s bizarre is that visitors to SportsChalet.com on Monday afternoon and this morning were greeted with another site. In what appeared to be a technical glitch, the Web site that showed up on SportsChalet.com was for a Southern California scuba diving business, and the address on the bottom of page said http://www.diveboat.com. It makes you wonder how many of the momentum investors who bought into Sports Chalet on Monday even bother to check out the site