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 property management software specialist RealPage
So what: After spiking to a high of $34.19 in the late afternoon, the shares quickly retreated and ended up closing the day with a 6.4% gain. Today's extreme volatility didn't come on extraordinarily heavy activity or company-specific news, so Fools shouldn't read too much into the price action.
Now what: RealPage's shares seem just too hot to touch right now. With today's rally, RealPage is now up more than 120% since its August IPO and trades at a rather lofty 90-plus P/E. Analysts expect RealPage to grow profits more than 20% in each of the next five years, but I'd wait on the sidelines until Mr. Market is a lot less excited about those prospects.
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