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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: A week after plunging as much as 25% on disappointing guidance, shares of AsiaInfo-Linkage (Nasdaq: ASIA ) fell as much as 16% in early trading and stayed down much of the day, closing off 13.7%.
So what: It's hard to say exactly what spurred the selloff, but it's worth noting that, over the past quarter, AsiaInfo-Linkage had become a favorite buy among institutional investors seeking Chinese names. Perhaps poor guidance has enticed Big Money managers to flee the stock?
Now what: Yes, I'm speculating, but I also don't see another explanation when most Chinese names rallied during another topsy-turvy day for the broader market. Do you agree? Disagree? Weigh in using the comments box below.
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