Shares of online credit card company NextCard (Nasdaq: NXCD) climbed 1/2 to 23 on Friday one day after the company reported solid second-quarter revenues of $3.6 million. The revenues were up from $1 million in the previous quarter and just $212,000 in the second quarter of last year. Overall, the company lost 45 cents a share, one cent better than expected.
NextCard stock actually climbed as high as 27-7/8 before it was dragged down on an overall weak day for Wall Street. NextCard is still trading near its all-time low of 19-1/2 and well off its all-time high of 50. This stock could recover in a major way if the Internet sector bounces back.