Excite Splits Stock, Shares Rise
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Shares of portal player Excite, Inc. surged today following an announcement that its Board of Directors approved a 2-for-1 stock split.
In heavy trading of nearly 6 million shares so far today, Excite stock was up 9 3/4 trading at 85 3/4 as of 2:45 EST.
The company said it decided on the split in an effort to improve trading liquidity and extend common share ownership. After the stock split, over 50 million shares were made available.
Excite was also in the news today in conjunction with AT&T which announced a new suite of Internet telephony applications that will be targeted at users of the "Excite Online Powered By AT&T WorldNet Service."