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.

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