Stock Pick of the Week
Virage (Nasdaq: VRGE) has some major momentum behind it and I'm betting that will continue into this week and beyond. After speaking at a major investment conference and announcing a deal with Microsoft last week, VRGE is set to roll. Monday morning VRGE announced another slew of contracts including a deal with powerhouse Sony. As content continues to amass on the Internet, demand for services such as those offered by VRGE will grow with it. The yearly range on VRGE is 10 - 30 5/8.
Last week's stock pick, iBEAM Broadcasting (IBEM) jumped out of the gate great last Monday, but by Friday it had broken stride. IBEM closed at 10 13/16 down 11/16. What derailed IBEM could have been one of two things: a) the old buy on the rumor sell on the news phenomenon. The stock went up until the Robertson Stephens Internet conference in San Francisco ended last Friday. Or b) the overwhelming negative drag of the Nasdaq just was too much, and recent IBEM shareholders sold off into the pressure. The weekly range for IBEM was 13 3/16- 10 1/2. Our alternate stock pick VDAT continued to impress gaining another 10% and closing at 4 13/16. VDAT, in short, has been on fire.
Disclaimer
The "Stock Pick of the Week" is not intended to be a solicitation to buy or sell any securities. Please do your own research before you buy or sell any security. This is published for informational purposes only. Writers may buy, sell or hold a position in some of the stocks mentioned. Trading results may vary, and no guarantees are being made with regards to profits. Past performance is no indication of future results.