The stock of Information Architect Corp. (NASDAQ: IARC) leapt from a close of $5.66 on Monday to $7.50 on Tuesday on volume of 1.4 million shares. The company, which designs and develops software for the syndication and management of content across multiple Internet-related media formats, recently received an infusion of $7 million in equity funding.
The company, which went public in December 1997, has seen its shares trade in the $15 to $20 range until mid-1998, when its stock began dropping. By mid-1999, the stock was trading in the $4 range and reached a low of 84 cents on October 28, 1999. Since then, the stock has made a strong recovery based on the new cash infusion, along with increased confidence in the firm’s Internet software products.