Stock Watch: New Clients Boost Webstakes

Shares of Webstakes (Nasdaq: IWIN), which promotes e-commerce businesses through sweepstakes, giveaways and other special offers, soared nearly 39.5 percent on Monday, gaining 7-1/4 to 25-5/8 after the company announced that it has signed up six new clients:,, Classified Warehouse,, TheNet’sBest and This development follows last week’s announcement that,, Healtheon/WebMD, Mattel,, and have become Webstakes customers.

It has been quite a turnaround for Webstakes’ stock, which went public at $14 a share in September and traded as low as 5-15/16 before staging a dramatic recovery in recent weeks. Webstakes is building a pretty impressive client list. Other customers include NBC,, and Citibank. Both NBC and Excite@Home are investors in Webstakes. With the cost of customer acquisition a major concern for pretty much every online business, Webstakes should continue to see its client list grow.

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