Shares of Liquidity Services Inc. (NASDAQ:LQDT) jumped 10.9% Friday despite no significant news regarding the surplus-asset seller.
Putting aside Liquidity Services' latest difficult quarterly report a few weeks ago, the timing is rather curious. Earlier this week, Liquidity Services issued a press release touting its annual "Restock Tuesday" event -- "where retailers turn to Liquidation.com to stock up on inventory" following the biggest shopping days of the year, Black Friday and Cyber Monday -- as one of its website's busiest days of the year. But apart from noting many consumers haven't finished their shopping despite a record-breaking holiday weekend for e-commerce sales, that release offered little to no information to help investors quantify just how much Liquidation.com benefited this past Tuesday.
We should also note today's rise wasn't exactly a "pop," but rather came as LQDT shares gradually climbed as the day wore on. What's more, it came after an equally unexciting, unexplained decline over the past few days, leaving the stock down a modest 2% for the week.
In short, sometimes the market doesn't need a reason to push a stock one way or the other. So as always, investors would be wise to ignore most day-to-day moves like this, and instead focus on the actual business underlying the shares they own.