MagicJack Jumps as Tilson Predicts Netflix-Like Potential
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MagicJack VocalTec Ltd., whose founders pioneered voice-over-Internet technology, jumped the most since 2010 after hedge-fund manager Whitney Tilson said the stock has the potential to emulate the eightfold rally in Netflix Inc.
Tilson said his firm owns more than the 0.9 percent stake in MagicJack reported in a Dec. 31 regulatory filing, without specifying the size of it. Shares of the Netanya, Israel-based company jumped 18 percent to $16.25 in New York, the most since September 2010. Trading volume was almost five times the average volume of the last 90 days, according to data compiled by Bloomberg. The stock extended this year’s gain to 36 percent.