Stock Watch: MyPoints Gains on Successful Stock Sale

MyPoints.com, Inc. (Nasdaq: MYPT) gained 5.88 to close at 51.88 Thursday after the direct-marketing company said it sold $183.5 million worth of common shares in a secondary offering. MyPoints, which runs customer-reward programs for retailers, said the sale of four million shares at $45.875 each raised $105 million before underwriting expenses. Some of the shares were sold by stockholders.

MyPoints went public last August at $8 a share. Though the stock is down from a high of about 97 last December, the company has been steadily signing up companies for its “customer loyalty” programs. Companies that use MyPoints products include About.com, [email protected] and GTE.

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