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: Digital media specialist Sonic Solutions (Nasdaq: SNIC) soared more than 12% above last night's closing price in early trading today.

So what: In case you haven't heard, digital media in general and digital video in particular is red-hot right now. Sonic is riding a wave of excitement triggered by Netflix (Nasdaq: NFLX) telling us last night that DVDs are out and digital is in with plenty of figures backing up that statement.

Now what: Sonic CEO David Habiger rang the opening bell on the Nasdaq exchange this morning to place the company even more in the spotlight at exactly the right time. While Sonic has traditionally joined forces with poor old Blockbuster rather than Netflix, the company hopes to play a big role in the digital future of entertainment. The market still doesn't know exactly what to think of those grand plans, judging from a share price swinging between $4.65 and $14.02 per share over the past 12 months.

Interested in more info on Sonic Solutions? Add it to your watchlist by clicking here.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. Netflix is a Motley Fool Stock Advisor selection. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool is investors writing for investors.