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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 local search operator Dex One (Nasdaq: DEXO ) climbed more than 15% in today's early trading.
So what: Stop me if you've heard this one before: Google may or may not buy local advertiser Groupon for $5 billion or more, putting a premium and a buyout target on the backs of every local information provider on the market.
Now what: Dex One only recently reorganized its operations, striving for a profitable business model. Its share price is still down 47% over the past six months and 82% over the past year. Even if the company miraculously finds an interested buyer, that deal would be thin salve on the wounds of existing shareholders, and you'd need a serious appetite for risky business to jump aboard this stock today. You have been warned.
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