NEW YORK (TheStreet) -- MagicJack VocalTec (CALL) - Get Report spiked 18.18% to $16.25, up $2.50 from its previous close of $13.75, at the close of the trading day on Monday after Whitney Tilson, the managing partner of New York-based hedge fund Kase Capital Management, said that the company could potentially mimic Netflix's (NFLX) - Get Report eight-fold increase.
Tilson stated in a research note that MagicJack's marketing push could lead to a surge in subscriber growth and an increase in the value of the stock. Netflix has soared 689% in the 16 months since Tilson recommended it, according to Bloomberg.
The stock had a volume of 2,281,373, more than four times its average of 464,587.
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