Shares of VerticalNet (NASDAQ:VERT) soared $30.62 from a close of $141.38 on Monday to a close of $172 on Tuesday. The NASDAQ brokerage Fletcher and Faraday rated the stock as having a positive outlook on Tuesday morning.
The Horsham, Pennsylvania-based VerticalNet went public on February 11, 1999, and has increased steadily since closing at $22.68 on its first day of trading. The company creates and operates online vertical trading communities in 10 different categories, including advanced technologies, communications, environmental and healthcare. The communities allow members to purchase goods and services on VerticalNet online stores. Other services include industry news, job searches and discussion areas.