I last talked about HandHeld Entertainment when they announced that they were acquiring eBaumsWorld.com for $17.5 million. I also went into great detail on all the other site acquisitions they had over the past year and how their plummeting stock was a disaster!
In addition to keeping an eye on this stock and knowing pretty much all of the sites they have scooped up, I’ve also been holding stock in this company for a long time now. I first purchased right after they picked up Dorks.com back in November 2006… and have been buying on the dips, all the way down to $1.50! (52wk Range: 1.00 – 7.78)
Today I was looking over my portfolio and saw my numbers were up pretty high. I noticed ZVUE (HandHeld Entertainment’s Stock Symbol) was up over +50%! For the first time, comScore is now measuring all of HandHeld’s Web sites as a single entity. This is a big change over and mainly because of HandHeld’s formal launch of ZVUE Networks, its online video advertising network. With the new ranking in place, HHE was ranked #1, at the top of the ‘Top 10 Gaining Properties by Percentage Change in Unique Visitors” for August 2007. HandHeld had the largest increase in unique visitors (U.S.) by 327% month-over-month from July 2007 to August 2007.
In addition to the big spike on news today, ZVUE also made news saying they will buy back over a million shares of their own stock over the next 6 months. With all the news on this stock and a company buyback in place, is it now time to buy into ZVUE? Time will tell, and I’m sure they will have more business acquisitions on the way.