Jeff:
QNTM's stock price is aslo linked to a generally bearish outlook for tech-stocks at present. For example, on Friday, the stock price rose to 20 9/16, just before the Canadian interest rate hike hit the air. Then the market, especially tech-stocks, got depressed.
Why? Canadians will be able to afford less of US exports. But, one could also argue that US can make more cheap exports to Canada since US$ weakened against Can$.
There should be no influence on QNTM. However, since the market went down any way, I am inferring that the market has become bearish on tech-stocks after Oracle missed earnings, citing Asian problems.
Again, as a contrary indicator, the market (especially tech stocks) is likely to rise on Monday, especially because all Koreans (govt as well as opposition) have accepted IMF terms to open up their markets and IMF said on Friday (after close) that the worst was behind us; Korean market shot up 2.6% on Saturday; they trade on Saturday. Thus, keep the fingures crossed!
Sankar |
