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 Chinese IT services specialist Camelot Information Systems
So what: Today's double-digit surge, which comes on nearly triple the average volume, represents an all-time high for Camelot's shares. Camelot only went public in July at roughly $11 per share, but the stock has managed to climb more than 90% in that short period of time.
Now what: I'd be hesitant about buying into Camelot at this point. Although analysts expect Camelot to grow profits at about 20% in each of the next five years, I can't help but feel nervous about its smoking-hot stock price, 50-ish P/E, and, of course, its status as a Chinese small cap. When it comes to the IT services space, tried-and-true global giants such as IBM
Interested in more info on Camelot? Add it to your watchlist.