Jamdat picks up steam on the Nasdaq

By Curt Feldman, GameSpot
Posted Jul 11, 2005 12:36 pm PT

[UPDATE] Mobile game creator, publisher sees share price climb, intraday trading nearly eclipses all-time high. Takeover speculation seen as prompt for sharp rise.

Jamdat is aiming for the record books on Wall Street today. The mobile game developer, publisher, and aggregator is up nearly 10 percent from its close on Friday. This marks a steady climb in share value since last week, when shares traded below $27.00

With about an hour to go in trading on the Nasdaq today, Jamdat is trading at $33.21, up $2.79 from Friday's close of $30.42. At one time today, the stock traded today just $.20 off its 52-week high. At 1.2 million shares trading hands so far, volume is heavy.

As recently as April 5, 2005, Jamdat traded at its all-time low of $15.16. On April 22, Jamdat shares rose dramatically on news of its acquisition of Tetris license-holder Blue Lava Games. Then, shares rose $2.47, or 15 percent, to $18.18.

[UPDATE] A Wall Street Journal dispatch today, referring to Smith Barney analyst Elizabeth Osur, suggests the buy up of Jamdat shares may have been the result of Osur's memo sent this morning to investors. "Reports today are repeating earlier summer speculation that Electronic Arts could make a bid for mobile game player Jamdat," she said. EA declined to comment on the analyst's memo.

Jamdat closed the day at $32.50, up $2.08. In after hours trading, Jamdat had edged up another $.07 at press time.

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