What: Shares of Haynes International
So what: Haynes International operates in an unsexy industry, providing nickel- and cobalt-based alloys for use in manufacturing. What prompted the stock's major pop today is anybody's guess.
Now what: Investors should steer clear of buying stocks that reflect a sudden surge of inexplicable bullishness. Haynes doesn't even look like a bargain stock, since it trades at 66 times earnings. If there's no real catalyst, it's a good time to count to 10 and do more research.
Interested in more info on Haynes International? Add it to your watchlist.
Alyce Lomax does not own shares of Haynes International. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.