Why Name A Company After Your Dog And Expect The IPO To Explode?
The stock market today was strong enough to end the week without disheartening investors on this quadruple witching Friday. Dow down 0.02% and NASDAQ up 0.56% – I’ll buy that for a $1.
Some of the main stocks our subscribers were asking about in the stock market today are:
Zynga (NASDAQ: ZNGA) – the company behind popular Facebook games like FarmVille and CityVille -has stirred up a lot of attention with its IPO this morning.
But with a 9% slide in ZNGA‘s share price already on the books, you may be wondering if this social media IPO has lost its shine. ZNGA closed at $9.50 on volume of 116,819,906
Facebook’s anticipated IPO could come as soon as April (only 4 months from now). But even the company’s projected $100 billion IPO could be dampened by major events now taking place in the U.S. government. The actions of a few key government officials could devalue that $100 billion by as much as 90% – and force even those who’ve saved a $1 million or more to ask if customers would like to “up-size their fries and drinks” in their retirement.
Adobe (NASDAQ: ADBE) surprised investors last night by announcing better-than-expected quarterly financial results. Net sales jumped 14% to $1.15 billion, and EPS came in at $0.67. This beat the Street’s consensus estimate of $1.09 billion and $0.60, respectively. The stock jumped 6.6%.
American Apparel Inc. (AMEX: APP) closed nicely at $0.72 on volume of 835,771. The global presence of APP and it’s low price is so attractive right now that the stock is basically giving it’s shirt of its back to you for that price. APP was trading at over $15 a share a few years ago and Insiders have been buying shares over the last 6 months to the tune of nearly 3 million.
Amwest Imaging (OTCBB: AMWI) bounced of the floor to close up 20.16% today at $0.155. AMWI fell out the ugly tree and hit every branch on the way down the other day. When you look at their chart this week, you can see the massive spike in AMWI shares.
Hopefully, you weren’t left holding the bag cause if you were, like Elmer Fudd would say: “I’m vewy-vewy AMWI right now!” But if you are, you can’t say we didn’t warn you. AMWI made our November 21st and 25th issues, as well as a third and final warning on December 2nd.
Enjoy the weekend and expect to see a few “Top 10” lists posted here before the weekend to venture into the holiday weeks ahead.
***Reminder: never chase stocks that gap at the open and always protect your profits!
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