Stock Watch: eGlobe Soars on News of B2B Venture

Shares of telecommunications and information services company eGlobe (Nasdaq: EGLO) soared nearly 46 percent on Friday, climbing 2-7/8 to 9-3/16 after the company announced that it is participating in a new joint venture known as iwon.com that will start offering business-to-business e-commerce solutions in China in the second quarter of this year.

Volume for eGlobe stock was furious on Friday, with nearly 13.7 million shares changing hands, compared to the average daily volume of just 410,000. eGlobe’s new venture straddles two of the areas investors are in love with right now: Business-to-business and China (witness the strong performance by China.com stock). Shares of eGlobe are getting even stronger in early trading today, gaining 4-7/16 to 13-5/8, a rise of more than 48 percent.

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