Shares in web audio and video broadcaster Broadcast.com surged 50% Friday, closing the day up $65.50 at $197.50 on volume of 2.7 million shares, nearly nine times its daily average. At one point in the session, the shares traded at a record high as $230. Nasdaq suspended the shares temporarily as it requested information from the company about the unusual activity, but it declined to comment, insisting that it had no news to report. The huge gains came after the stock had already jumped 44% on Thursday, leaving some analysts mystified as to what is currently making the issue so attractive to investors, as takeover talk hasn’t been heard. The shares initially went public in July, at a price of $18 each. The company, which has yet to turn a profit, is expected to post a loss of $0.25 per share for the fourth quarter.
