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: Small-cap oil and gas equipment company Newpark Resources
So what: Last Friday, Newpark shares were punished 30% after demand for its water-based drilling fluids -- promoted as an exciting growth source for the company -- came in much lower than expected. At the time of this writing, Newpark is sinking on more than five times the average volume, so it's clear that investors still haven't gotten over the miss.
Now what: Last week, I wrote that Newpark's long-term story seems intact, and today's loss extension doesn't change that. After all, the tiny Newpark has the unenviable task of battling the Big 3 -- Schlumberger
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