Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of OLED technology developer Universal Diplay (NAS: PANL) jumped as much as 11.5% in intraday trading on heavy volume.
So what: This, my friend, is a momentum move of the purest kind. Universal Display had jumped more than 10% on threeout of fourtrading days this week, all on reasonably substantial news, and now investors are piling on to ride this just-discovered bandwagon. All told, share prices have spiked by nearly 90% this week.
Now what: To recap this week's action, Universal Display presented an important license deal with top customer Samsung, saw LG Electronics introduce a high-volume OLED smartphone, and heard Corning (NYS: GLW) commit to producing glass for big-screen OLED televisions. The stock still has some way to go before eclipsing the 52-week highs in the mid-$60 range, but it looks like OLED is getting its place in the sun. Keep in mind, dear investor, that broad market swoons are unlikely to make a real difference in Universal Display's fortunes at this point, because Samsung and LG can't make these screens fast enough to keep up with demand.
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