It is hard to imagine e-commerce infrastructure stocks getting any hotter, but one of the highest fliers in the space just keeps building momentum. Shares of e-commerce software company Commerce One (Nasdaq: CMRC) soared 46-15/16 to 254 on Wednesday, a gain of nearly 23 percent. The gain came after the news that Commerce One is working on an e-commerce joint venture with top automaker General Motors.
If you want to understand how dramatic Wednesday’s gain truly was, consider that the climb of more than 46 points was more than twice the company’s initial public offering price of $21 when it went public at the beginning of July. In other words, the stock is now up more than 1,000 percent up from its offering price.