Stock Watch: Volatile Day For iGo

Shares of iGo (Nasdaq: IGOC), an online retailer that sells accessories for mobile computing devices and phones, gained nearly 11 percent on Thursday, climbing 1-7/8 to 19-3/8 after a wild day of trading. The gain came one day after iGo reported $5.3 million in net revenue for the third quarter, a 70 percent increase from the $3.1 million in the third quarter of 1998. The company had a third-quarter net loss of $3.6 million or 26 cents per share.

On Thursday, iGo stock opened at 18 and climbed as high as 26-1/8 before giving back most of its gains for the day. iGo went public at $12 on October 14, and it looks as if some of Thursday’s price swings occurred because investors who got in at the offering price were taking profits.

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