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 off-highway wheel manufacturer Titan International
So what: I couldn't find any company- or industry-specific news fueling the rally, but given Titan's high beta of 2.2, it's no surprise that the shares are soaring on a big market "up day." The stock has been pounded in recent months because of its highly cyclical nature and exposure to the general economy, so today's positive market vibes could be finally signaling a bottom to investors.
Now what: Don't let this surge keep you from looking into this stock. In addition to current sales, Titan plans to sign up customers for a minimum of $150 million to $200 million of new construction and earthmoving business during the next three months, suggesting plenty more short-term pop potential. And with Titan CEO Maurice Taylor, Jr. stating last week that the "future looks great" and that the company's "best days are yet to come," the stock might even be a longer-term opportunity worth following.
Interested in more info on Titan? Add it to your watchlist.
