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 high-power fiber laser specialist IPG Photonics
So what: The suit had been going on for a long five years, so today's news nicely gets rid of one of the main risks of owning IPG. Of course, the stock is still down more than 25% over the past three months, suggesting that Mr. Market is still very much concerned with the macro environment.
Now what: Don't let today's rally frighten you from the stock. IPG is expected to grow its bottom line at a more than 20% pace in each of the next five years, and with the short-term legal overhang now removed, the stock should be free to reflect that growth. Of course, as an industrial tech stock with a relatively high beta, expect the road to be bumpy.
Interested in more info on IPG? Add it to your watchlist.
Fool contributor Brian Pacampara owns no position in any of the companies mentioned. The Motley Fool owns shares of IPG. Motley Fool newsletter services have recommended buying shares of IPG. Try any of our Foolish newsletter services free for 30 days.