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 real estate development specialist Howard Hughes
So what: This swoon actually began on Friday, kickstarted by an underwhelming earnings report Thursday night. The company is fresh out of a November IPO as it spun out from mall developer General Growth Properties
Now what: Besides being a fresh and unknown face on the market, Hughes specializes in troubled properties that are difficult to value. Yet the shares had soared as high as 89% above the first day's closing price when the young company's very first quarterly report came online. This is a high-risk investment with the potential for high rewards, but it's way too early to tell which one of Janus' two faces investors will see in the long run. Give Hughes another quarter or two to prove its worth before jumping in.
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