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 bookstore chain Barnes & Noble (NYSE: BKS) jumped as much as 16.9% on huge volume, nearly erasing yesterday's 17% crash.

So what: On the heels of another disappointing earnings report, analyst firm Maxim Group slapped a "buy me" sign on Barnes & Noble with a $20 price target. The firm sees Nook e-book readers carving out a market amid Amazon (Nasdaq: AMZN) Kindles and Apple (Nasdaq: AAPL) iPads, eventually moving the venerable bookstore out of retail operations and into a digital subscription model.

Now what: Drawing further parallels to Apple, Maxim thinks those bricks-and-mortar stores will be a competitive advantage much like the Genius Bars in Apple stores. That makes sense on the surface, but let me just point out that Blockbuster already tried that two-pronged approach in a digital media market and, didn't work out so well. Just think about that for a second before backing up the truck to buy Barnes & Noble here.

Interested in more info about Barnes & Noble? Click here to add it to My Watchlist.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.