Thoughts on random stock price moves.
We all tend to get worried or elated over moves of our stocks with no news attached. For example SZYM was up over 3% on Friday and finished on the high close of the week. However, if the week had ended on Thursday, we’d be saying it fell over 2% on Thursday to the low close of the week.
And PFIE closed at $4.74. How in God’s name did it ever get as low as a $3.23 just 4 weeks ago? That’s up almost 50% in 4 weeks, but it should never have gotten that low.
And for a trivial example, SKX dropped from $58.70 to $58.30 on Friday. Did anything happen that caused it to be worth 40 cents less on Friday? Of course not. It’s a heck of a lot more important that it’s up from $52.30 four weeks ago on really good news.
And why was SYNA up over $2 and more than 2% on Friday? Maybe a recommendation from someone? Or a mutual fund bought some shares.
The message in all this is to keep your eye on the company, and how it’s doing, and not on the stock price. My thought of the day.
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