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ntertainment shares exploded out of the gate Tuesday, soaring 56 per cent to $3.35 on the TSX Venture Exchange. Within 34 minutes, the shares had slumped 46 per cent, then finally finished the day at $2.25 per share. About 64 million shares traded hands -compared to fewer than 19 million the same day for tech giant Research In Motion.The shares closed the week at $1.51, trading at much higher volume than usual through Thursday. At its peak on Tuesday, Intertainment had a market value of $420 million -astonishing in light of the fact its sales in fiscal 2010 barely topped $4 million.
The source of all the excitement? Software translation technology marketed by Intertainment's Ortsbo subsidiary and its spokesman, Gene Simmons, the bass guitarist for the rock group Kiss.