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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of transportation equipment manufacturer Wabash National (NYSE: WNC ) were up more than 10% in intraday trading on higher-than-average volume.
So what: The company is as quiet as a mouse. Of course, those who follow Wabash National's stock should know that the stock is nothing if it's not volatile: Last week, the stock posted an intraday move up of almost 10%, while the first two days of this week it was down intraday by more than 5% and then back up by a similar amount.
Now what: The company -- which supplies truck trailers and other gear to transportation companies like FedEx (NYSE: FDX ) , YRC Worldwide (Nasdaq: YRCW ) , and Old Dominion (Nasdaq: ODFL ) -- was absolutely clobbered by the recession. After all, what trucker wants to invest in new trailers when it's having trouble filling up its current ones? But when Wabash National announced third-quarter results a month ago, investors saw continued improvement in the business -- including trailer unit sales that were up 89% from the previous year. Wabash National investors will be best served focusing on fundamental factors like that and forgetting about the wild swings in the company's stock.
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