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.
So what: Analysts at Craig-Hallum initiated coverage with a buy rating and a $50 price target. The market proceeded to have a panic attack, sending volume through the roof and the stock higher when it was down on the day.
Now what: Why should you care what Craig-Hallum has to say? You shouldn't really. The market has been grasping at straws with VirnetX and as a result the stock has been on a roller-coaster ride for the past year and this is just the latest case.
Apple (NAS: AAPL) is calling more of the company's patents into question and companies making 4G phones aren't exactly knocking down the door to license the company's patents. I just can't get behind VirnetX right now and think today's bump will soon wear off.
Interested in more info on VirnetX? Add it to your watchlist byclicking here.
At the time thisarticle was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.The Motley Fool owns shares of Apple. Motley Fool newsletter services have recommended buying shares of Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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