Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.
The Dow Jones Industrials (DJINDICES:^DJI) climbed ever closer to the 16,000 mark today, setting another record after gaining almost 55 points. Fed-chair nominee Janet Yellen's testimony before the Senate today confirmed the impression many investors already had that she would encourage continued monetary-policy accommodation. Yet, several stocks enjoyed truly massive moves upward, with Organovo Holdings (NASDAQ:ONVO), YuMe (NYSE:YUME), and LightInTheBox (NYSE:LITB) all climbing double-digit percentages. Let's look more closely at these stocks to see why they soared today.
Organovo Holdings jumped 17% as the 3-D bio-printing company kept up its positive momentum following its quarterly report earlier this week. At this point, everything about the company is speculative, based on the hope for success of its liver-toxicity assay test. Investors will likely have to wait until next year for the commercial release of that test, but with sentiment throughout the 3-D printing industry running at a fevered pitch, Organovo could easily climb much further long before it starts generating any significant revenue.
Digital-video advertising company YuMe soared 32% after the newly public company reported a 39% jump in revenue, and a relatively narrow loss. Rising customer counts and positive guidance reassured investors that YuMe's growth story remains intact after a painful slump over the past two months. Even with the gains, however, YuMe still trades below its $9 initial offering price.
Chinese online export-retailer LightInTheBox climbed 11% after retail peer E-Commerce China Dangdang (NYSE:DANG) issued its quarterly report. Bulls bid Dangdang shares up 4%, focusing on a narrower loss than investors had expected. Yet, with Dangdang's sales growth rising at a slower pace than in previous quarters, investors may have come to the conclusion that LightInTheBox's more outwardly oriented sales model might work better than focusing purely on the domestic Chinese market.