Marchex Up Over 20% to New 52 Week High

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After reporting earnings last night Marchex (MCHX) is up just over 20% in trading today to a 52 week high of $7.30 a share.

Marchex has now more than doubled off its 52 week low of $3.06 a share.

At $7 a share the company has a Market Cap of $270 Million dollars.

At its lows of the year, Marchex was trading at or below the acquisition cost of Yun Yee’s Portfolio.

The company received an upgrade to outperform by RBC this morning helping the stock.

Marchex is looking to spin off its Domaining business, that is the buying, selling and development of some 200,000 Domain names it owns later this year.

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.