GuruNet, the Israeli company behind Answers.com, bolted more than six points in trading today to 22.98. The stock price ended last week at 12.50, so it has almost doubled this week. What did Guru announce this week to make investors swoon so hard? Nothing.
Why is GuruNet soaring? Investors may be looking at Google's $55.6 billion market capitalization and thinking that GuruNet's Lilliputian $93 million capitalization leaves a lot of room for growth. Maybe, but Answers.com has just been released, and its future, and the company's too, are far from certain.
They're both wrong. The answer? Google put them in the top right of the search results box now instead of Dictionary.com. Plug in guys, really, the water's fine.