This afternoon Investment Fund GVC Capital (GSVC) purchased a $6 million stake in Facebook (NYSE:GS)(NASDAQ:MSFT) on secondary market “sharespost.” Markets lauded the move, sending GVC stock up 29% in trading today. The deal sent 225k shares of the social network to GVC for $29.28 per share, based on its analysts’ valuation of the company at $70 billion. At $70 billion, Facebook would be valued just less than company’s Amazon.com Inc (NASDAQ:AMZN), Cisco Systems Inc (NASDAQ:CSCO) and Hewlett-Packard Co (NYSE:HPQ). The Facebook investment now represents 15% of GVC’s portfolio. Facebook expects to make its IPO in early 2012.
Other small-cap stocks making big gains this afternoon were YRC Wordwide Trucking (NASDAQ:YRCW) which finished the day up 42% on unusually high trading volume, now priced at $1.60. The stock was a standout from the transportation sector, which gained .72% on the day. Garmin Ltd. (NASDAQ:GRMN) maker of navigation technology products and GPS devices fell off 3.68% in trading today, Zacks’ analysis reports that the stock has entered a downtrend, falling under its 200-day moving average, a sign that the company may see more red in the coming weeks.
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