December 10, 2010
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: SAVVIS (Nasdaq: SVVS ) shares jumped 10% for a short time today on high volume.
So what: Singapore Technologies increased its stake in the company to 8.9%, and shares spiked on heavy volume just after 1 p.m. More than 1.6 million shares have traded hands today, nearly triple the average volume.
Now what: This comes a day after Deutsche Bank increased its price target to $30, so the market is seeing plenty of bullish signs. Shares settled down later in the day giving investors a better point to jump in. Since July, the stock has been on a consistent ride higher, and I think there is more room to run given these two positive developments.
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