Interesting sequence of events today (or should I say, an unusual lack of typically sequential events...).
Today, the biggest loser on Nasdaq was Concur Technologies. Symbol CNQR. Stock was down 20 points to 12 and change...roughly a 60% chop. Ok, usually--ALMOST WITHOUT EXCEPTION--if an analyst or financial publication has positively profiled/recommended a stock that got demolished shortly thereafter, almost without exception, Kernan, Faber and Haines have a field day slagging said publication or analyst, correct?
Well, it just so happens, CNQR was written up by Individual Investor magazine (online version) Friday afternoon, after the close, in an article entitled "The Best E-Commerce Stocks To Buy Now." Twelve stocks were mentioned as the "Best E-Commerce Stocks To Buy Now." Two trading days later, CNQR loses over 60% of its market cap (see link below).
fnews.yahoo.com
Where was the comedy today? Did I miss Haines/Kernan/Faber doing their proverbial slice-and-dice on Individual Investor for such a tremendous gaffe? As per usual, I had Squawk on all morning, but there was no slagging of II.
Don't get me wrong, I absolutely love it when they take these jokers to the cleaners when they're dead wrong...but I cannot figure out why Individual Investor magazine failed to make their hit list. Does II have something that Merrill Lynch, PW, Barrons, Business Week, ____ (insert any of the investment banks and/or financial rags they slag whenever they've gone wrong) don't have? I do not understand the preferential treatment/oversight on this. Please explain. |
