Marchex Update

Marchex, Inc. (NASDAQ: MCHX): 1:30 PM NYC time, November 29th: It’s been a while since I mentioned Marchex, but at the bottom of a 2-year trading range, I figured I’d take a look. The company owns one of the Internet’s largest domain name portfolios and is monetizing them through development and paid parking programs. The stock is heavily shorted and some of the shorts and friends of shorts are nosing around for dirt (see here and here). The pop you see a couple of weeks ago (two candles ago on the above weekly chart) was driven…

…by the company’s announcement to initiate a dividend and buyback up to 3 million shares of stock. Cheers.

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