Stock Watch: Looksmart Up to No. 7

Recently public portal site Looksmart (Nasdaq: LOOK) just keeps on growing. On Thursday, shares of Looksmart climbed nearly 11 percent, gaining 2-9/16 to 26-1/4, after the company announced it is now ranked No. 7 in Media Metrix’s weekly list of top Web properties.

This is the first time Looksmart has been in the top 10 of Media Metrix’s list. Looksmart was the No. 11 property in July’s ratings. According to the latest ratings, Looksmart averaged 1.503 million daily unique users during the week of August 16, up from 1.429 million the previous week. This puts Looksmart ahead of sites such as eBay and RealNetworks’ network of sites.

Looksmart has a market capitalization of about $2.2 billion (US$) , and it looks like investors are beginning to view it as a relatively inexpensive portal play. By contrast, Yahoo! reached 7.779 million unique users in the week of August 16. Yahoo! is valued at more than $36 billion.

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