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Drugstore.com (DSCM – 2-1/32) has jolted over 60 percent higher on extremely heavy volume today. Of course, this seemingly large percentage amounts to about a quarter of a point, bringing the stock above the $2-per-share level.
Since the online pharmaceutical retailer went public in July 1999 around the 70 mark, it has spiraled lower, despite reputable earnings numbers and increasing sales figures. Today's move to the upside followed news that the firm will likely report fourth-quarter sales of around $35 million. This marks a 90-percent increase compared to 1999 figures for the same time frame. Also, the website added 257,000 new customers during the final quarter for 2000.
On the earnings front, First Call expects the company to lose 55 cents per share for the fourth quarter, up from a loss of 96 cents per share last year. DSCM will announce its final financial results later this month.