Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Overall, the index had a modest gain.
It was a mixed bag in e-commerce stock performance last week with 12 gainers and 12 losers splitting the Internet Retailer Online Retail Index, resulting in a modest gain of 0.81% over the prior week. One stock, Coastal Contacts Inc., closed the week unchanged.
Leading the gainers was Bidz.com with a 26.0% increase over the week before. The auction site’s stock closed at 63 cents Feb. 24 compared with the Feb. 17 close of 50 cents. The company issued no financial news last week, but on Feb. 6 it said the U.S. Securities and Exchange Commission completed a three-year investigation into Bidz.com’s inventory reserve policies and recommended no action against the company.
Following the SEC announcement, the Nasdaq Stock Market Inc. on Feb. 9 granted Bidz.com, No. 150 in the Internet Retailer Top 500 Guide another 180 days to get its stock to the $1 minimum trading level for at least 10 consecutive business days required for listing on the exchange.
Other double-digit gainers this past week were U.S. Auto Parts Network, 12.6%, and Vitacost.com Inc., 10.6%.
The broader market registered even more modest gains than the Online Retail Index. The Dow Jones Industrial Average increased 0.26% and the Standard & Poor’s 500 Index increased 0.33%.
The Online Retail Index tracks 25 publicly traded e-retailers and e-commerce technology providers.
Here are the best-performing stocks last week in the Online Retail Index and the percentage increase in stock price for each:
• Bidz.com, 26.0%
• U.S. Auto Parts Network, 12.6%
• Vitacost, 10.6%
• ValueClick, 5.0%
• Vistaprint, 4.3%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Netflix, -8.4%
• 1-800-Flowers, -8.0%
• Blue Nile, -7.7%
• Shutterfly, -6.4%
• United Online, -5.4%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Bidz.com Inc., Blue Nile Inc., Bluefly Inc., Coastal Contacts Inc., Digital River Inc., eBay Inc., eGain Communications Corp., Groupon Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc., Vistaprint Ltd and Vitacost.com Inc.