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 UTi Worldwide (Nasdaq: UTIW) rose nearly 12% on huge volume in early trading before snapping back down to up just 3% as of this writing.

So what: UTi has attracted millions since replacing Chipotle in the S&P MidCap 400 index. The stock had already achieved twice the average trading volume as of this writing.

Now what: Though UTi is a momentum play, there is a long-term growth story here. Analysts expect the company's supply chain services to boost profits by 19% annually over the next five years. If they're right, the stock's forward P/E ratio of 24, while not cheap, is probably reasonable.

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