Quepasa Corp. (AMEX: QPSA) lost $0.21, or 4.22% to close Friday’s trade at $4.77, snapping two straight sessions of gains. Over 3.34 shares exchanged hands during the session, topping the 10-day average of 1.08 million.
Shares in the Latino social network owner jumped 2.8% in the last five days and 46.8% in the last month. Year-to-date, the stock is down 55.6%.
Quepasa, along with many social media related stocks, saw an interesting spike earlier this month as social media giant Facebook filed its initial public offering with the Securities and Exchange Commission.
Headquartered in West Palm Beach, Florida, Quepasa owns and operates a social network and gaming platform for the Latin-American community primarily in North and South America.
Quepasa has had no press releases since January 11, when the company named Robin Shallow as its executive vice president for communications and public relations.
With the recent merger of Quepasa and myYearbook, Geoff Cook, COO of Quepasa, said the company looks to further its leadership as the best place to meet new people. Shallow will be integral to communicating that message and building the company’s brand globally, Cook said.
The company announced in November that it has completed its purchase of myYearbook.com, which is popular among high school-aged users, who use the site for chatting, playing games and buying and selling items with virtual money. The acquisition was expected to rack up page views and double the company’s number of users.
In the third quarter of 2011, Quepasa had revenue $1.5 million, down 46% from the $2.7 million recorded in the same period in 2010. Year-to-date, revenue through the third quarter was $5.6 million, up 32% from the $4.2 million for the same period in 2010. The company realized a net loss $3.5 million for the quarter, an increase of $3.2 million from a loss of $0.3 million in the same period in 2010.