Asymetrix Stock Soars--15 Years After the Fact

Shares of little Asymetrix Learning Systems Inc. more than doubled Friday on the news that Microsoft co-founder Paul Allen has taken a stake. The trouble is, the “news” is about 15 years old, the financial Web site Briefing.com wryly noted.

The shares, which opened at $4, surged as high as $11.63 before closing at $8.19 on Nasdaq.

Allen, who founded the Bellevue, Wash.-based company in 1984, recently raised his stake to 42.3%, he reported in a filing Friday with the Securities and Exchange Commission. Apparently, many investors didn’t notice that, according to the company’s previous proxy filing, he owned a 42.1% stake March 31.

“He increased his stake 75,000 shares, which, versus the amount that he already owned, was trivial,” said John Atherly, the online training and education company’s chief financial officer. “He exercised his options. That is the only data that I have seen released in the last week that I think is relevant.”

“Buy now, check the facts later,” quipped Briefing.com. “Regrettably, many investors/traders poured into the stock without first finding out the facts.”