January 5, 2011
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 Ancestry.com (Nasdaq: ACOM ) bounced 11% higher on a steady ride upward driven by a positive analyst review.
So what: Canaccord Genuity initiated the company with a buy rating, and investors have responded by pushing volume sharply higher today. The company only has a few analysts covering it, but they have given consistently solid reviews with positive ratings.
Now what: Can the online star of NBC's Who Do You Think You Are? be getting a boost from the show that will bump earnings? At least one analyst thinks so, and our Motley Fool Rule Breakers team agrees, giving the company two thumbs-up. I don't generally like to buy on analyst bump days like today, but the long-term growth story is definitely intact.
Interested in more info on Ancestry.com? Add it to your watchlist.