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 China-based media company Shanda Interactive Entertainment
So what: The company just filed for an IPO of Cloudary, its e-books subsidiary formerly known as Shanda Literature. Shanda will remain the majority owner, giving the company the opportunity to raise more money if Cloudary's shares take off.
Now what: Shanda investors are showing their appreciation for management's attempt to unlock Cloudary's value. Cloudary is a relatively recent addition to Shanda Literature, but it's obviously a fast-growing one. It's a cloud-computing play and an unabashed assault on traditional publishing models, and I'll be sure to keep a close eye on this stock once it becomes available. Until then, I'll simply keep Shanda on my watchlist.
Interested in more info on Shanda Interactive Entertainment? Add it to your watchlist.