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 Sam Adams maker Boston Beer (SAM 1.57%) jumped 12% today after the company reported earnings.
So what: Revenue was up 23% from a year ago to $181.3 million, and net income jumped 37% to $19.7 million, or $1.45 per share. Analysts were only expecting $175.4 million in revenue and $1.34 per share in earnings.
Now what: Boston Beer's stock is once again at a 52-week high as investors cheered the strong growth. This is by no means a cheap stock at 46 times earnings, but it's never been a cheap stock, because of its long-term growth. I think the stock still has room to run but I'd rather buy on a pullback than jump in at a peak today.
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