Youbet.com's Stock Price Soars; Marketing Deal Announced

The per-share price of stock in Youbet.com soared in trading Monday on the NASD exchange, rising above the stock's previous 52-week high.

With about two hours remaining before the market closed, Youbet's stock was at $2.09, up 11.8% over Friday's closing price. On volume of 628,400 shares traded so far Monday, the stock at one point traded as high as $2.22, according to quotes from Forbes.com. Previous to Monday's tracing, Youbet.com's 52-week high price was $2.00, with a 52-week low of $0.44.

Meanwhile, the online wagering company announced a marketing agreement with the California Authority of Racing Fairs. Under terms of the agreement, access to Youbet.com and the ability to place wagers, view races, and handicap, all online, will be available through interactive carrels, kiosks or workstations inside satellite wagering facilities operated by CARF, the company's announcement said. Additionally, both Youbet.com and CARF will co-promote each other through mailing lists, advertising space, Web sites, and newsletters, the announcement said.