Stock Watch: Hollywood Entertainment Stays Strong

Most Internet stocks were down on Wednesday, but Hollywood Entertainment (Nasdaq: HLYW), which owns online movie retailer Reel.com gained 1-1/2 to 21-1/4.

Apparently, Wall Street was pleased that Reel.com launched a Mother’s Day gift center and that it hired Alex Bond, most recently senior vice president of Internet development at Hollywood Entertainment, as its new chief financial officer.

Hollywood Entertainment’s trading volume was strong on Wednesday, with more than 1.6 million shares changing hands, nearly a million more than the daily average.

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