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Ask Jeeves slipped 6% after shareholders at a recently acquired company sold 5 million shares.
The Emeryville, Calif., Internet search engine said shareholders associated with Interactive Search Holdings sold Ask Jeeves stock they acquired in the companies' May 6 merger. Ask Jeeves said it granted the shareholders an early release from their lockup agreements.
The shares sold constitute these shareholders' entire positions, with the exception of their 752,236 shares that are held in escrow pursuant to the Interactive Search Holdings merger agreement, of which 601,805 shares will be released from escrow beginning Aug. 6, 2005.
Ask Jeeves fell $1.98 to $25.89
Q2-04 resulted in $60.3Million in revenue with EBITDA of $18.1.
The signing of the Google deal, the increasing traffic numbers and the various acquisitions is meaning that Ask is strong. Hence why the share price is going so well.