Earlier today Authentidate Holding Corp (ADAT) was up 12% for the day. It's now up just over 2%. What was the big news that caused this spike in this company with a market capitalization of $30 million? Beats me. According to Yahoo they haven't had a headline in 12 days. They have an earnings announcement in September. But they did get a new PR firm a few weeks back. I guess it's working. As I'm writing this, it's back up 11%. My guess is that when some other stock moved some computer algorithm said buy a poopload of ADAT, now sell it, now buy it again. Seriously, imagine the people who work there and maybe have their 401ks wrapped up in this company's stock. They must be going batpoop today.
Netflix (NFLX) is down 2% today, the only news I see is that HBO is going to the iPad and not to Netflix. Theroretically, 2% of the value of Netfilx was due to an impending HBO distribution deal. Um, yeah, right. Frontier Financial got a 13% haircut today. Why? Beats me. The last headline was June 9 about a shareholder lawsuit. My point is, if it was news driving this stock down 13%, we'd know. It's not people, it's Skynet....
Oh yeah, still following Fannie Mae and Freddie Mac. They're still in the $.40 range. Haven't repulled the buy trigger yet. I think they may shrink a little more.
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