Medcomsoft.com Continues to Soar

It's a second consecutive week of triple digit gains for Medcomsoft.com (MDCM - CDN) which we profiled here last week. Simply incredible! For the week ending Jan. 28 the stock gained 141.38%. Usually we see some profit taking and the stock falling back somewhat after such a run-up. But not this time. Medcomsoft.com continued to soar, doubling again with a gain of 114.29% for the week. It's up 757.14% for the year, the top return for any stock on our watch list.

Investors like its story with the possibility of an emerging giant like Healtheon in the U.S.. Its specialty software for the medical profession has already been adopted by over 400 facilities in Ontario including the Toronto General Hospital and, as noted last week, the company recently inked its first major U.S. deal. Strangely, the mainstream media has not picked up on this story. I did not see Medcomsoft.com mentioned anywhere recently. Then again, there was no new news from the company.

Second up on our list is Ezenet Corporation (EZE - CDNX), a company specializing in software, data center outsourcing and high speed Internet communication services to the business community. Much of their work is in the financial services industry and clients include the Bank of Montreal, Newcourt Credit Group, First Marathon Mortgage Corporation, AGF Trust Company, Peoples Trust Company, Merrill Lynch, and MRS Trust Company (a division of Mackenzie Financial). The stock is up 73.75% for the week.

The company issued a press release Feb. 4 advising that it was not aware of any news or impending changes to account for the recent market activity. In fact, a quarterly report is pending. Last year the company signed a multi-million dollar multi-year contract with the Bank of Montreal and Newcourt Credit Group which is expected to improve its quarterly reports for the next two years. The market move may be anticipation of good news ahead.

Third on our list is a company we only just added, but probably should have included earlier - Cognicase (COG - TSE). The company just concluded a major agreement to acquire SIBN Inc., the IT subsidiary of the National Bank of Canada. Additionally, the National Bank will invest $20 million in Cognicase, acquiring 35% of its shares and becoming the single largest shareholder. Cognicase will become the preferred IT supplier for the bank for the next ten years. The deal is expected to generate over a billion dollars in revenues for Cognicase for the period.

Already a major force in end-to-end electronic business solutions, the deal solidifies Cognicase's position as a major player in e-commerce solutions. The stock jumped 61.98% for the week.

Fourth on our list is a small Vancouver company called Electric Mail (ELE - CDNX). This outsourcer of e-mail services to corporations has just been added back to the list of companies watched for our Movers & Shakers Report after trading above a dollar a share for three consecutive weeks. It had been on our list before but fallen off on Dec. 5th. It traded at only $0.80 on January 18th before starting its huge climb to its current price of $3.25, up 54.76% for the week.

There has been no recent news to account for its sudden growth. But again, a quarterly report is imminent. Volume and price both soared in the last two trading days. The company previously reported modest gains in revenue for the quarter ended Sept. 30, 1999 along with increased losses. Since then it has announced a change in management with the appointment of Iain J.S. Black, President of Steel Wave, the proposed acquisition of Steel Wave and a strategic marketing and sales agreement with PCSupport.com Inc..

Four other stocks on our list are up over 40% for the week - Research in Motion (RIM - TSE), Informission (IFN - TSE), Le Groupe Videotron (VDO - TSE) and, new to our list, Exclamation Inc. (XI - CDNX).

The latter is an Internet incubator that went public with a reverse takeover of a shell corporation, Sports Technologies Group. It was founded two years ago by Marc Lavine, one of the key figures behind Cyberplex Inc..

Unique Broadband Systems is in its second consecutive week of double digit growth as is Janna Systems. Softcare Electronic Commerce is in its fourth week of major gains. On the negative side, gearunlimited.com and El Grande.com are both in a two week slide.