Webb Interactive Services, Inc. (Nasdaq: WEBB) CEO Perry Evans boosted his company's stock 43 percent Friday by announcing he would repurchase shares.
Shares in the maker of an XML-based technology platform for online commerce were up 0.88 to 2.88.
In response to numerous investors' concern with the decline in its share price, he issued a statement saying he is "disturbed and puzzled over the decline in value of Webb shares."
"We remain confident with respect to near-term new customer relationships and the effective deployment and sufficiency of our financial resources," Evans added.
The company also said it is on track for another record-setting year in 2001 as its Jabber subsidiary begins to hit stride alongside the core AccelX business.