Recruiting Stocks Surge Despite Hiring Trends: What You Need to Know
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 Monster Worldwide (NYS: MWW) soared 10% in early trading despite a new Dice Holdings (NYS: DHX) survey that says 47% of hiring managers plan additional hiring in the first half of next year. A similar survey held earlier this year found that 51% of employers planned hired in the second half of 2011. Dice and ManPower Group (NYS: MAN) also enjoyed gains.
So what: Why the rally in the face of negative news? Hopes for improving conditions in Europe appear to have investors convinced that hiring will resume soon, if not right away. Strong Black Friday sales also speak to better-than-expected consumer confidence.
Now what: There's also extreme pessimism to consider. Monster has sold off for so long, often for no reason, that investors may finally see a bargain. Do you agree? Would you buy shares of Monster Worldwide at current prices? Please weigh in using the comments box below.
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