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 TrueCar (NASDAQ:TRUE) briefly plunged more than 10% Monday on no new company-specific news. However, TrueCar recovered most of its losses to close just 3.6% down.

So what: TrueCar is still prone to significant volatility in the wake of its May 16 IPO. You can't blame investors for wanting to take some gains off the table after the stock jumped by as much as 20% Friday in anticipation of the expiration tomorrow of the company's 25-day post-IPO quiet period.

Now what: On Friday, I noted that shares don't look particularly cheap on the surface, but the quiet period expiration means TrueCar's underwriters will be able to weigh in on its prospects for the first time tomorrow. If their comments regarding the fast-growing Internet car-buying specialist are positive, the stock could see a significant upside move similar to those caused by expirations of the quiet periods for other recently IPO'd tech companies.

Such a pop isn't a sure thing, and I'm not particularly keen on playing speculative short-term movements like this. But I remain intrigued by TrueCar's long-term story, so I'll keep a close eye on its progress.