Share of Rightside (NAME) hit a 52 week high today on big volume.
Shares closed at $9.31 + $.23 as shares hit a 52 week intra-day high of $9.51 on 265,271.
The 90 moving average daily volume is only 23,497
The market cap of Rightside at today’s close is 178.75 Million.
The 52 week low of Rightside is 6.05.
There appears to have been a trade for 200,000 shares during the day.
A couple of domain industry legends have taken a 5%+ stake in Rightside.
Rightside is a new gTLD registry, the backend provide of Donuts another new gTLD registry and owns the domain name registrars, enom.com and name.com
I own a few thousand of these shares ,anyone know who bought them ,my gut says godaddy or Google, Frank shiling likes high numbers but likes deals so it wouldn’t be him unless he wanted to buy some size fast ,I once bought 3000 share ls and moved the stock three eights of a point by it pulled back anyway the point and figure chart on this suggests there is little supply so these prices will be supported
Lets see if it can break and HOLD $10 first. Mind your technicals (price and trend). It doesn’t matter who the hell is buying the stock all that matters is the Trend.
ben pedri says
Bob everything matters ,there was huge volume bids this morning ,obviously the buyer wanted the stock and invested 2 million dollars in the open market ,to say this does not matter is pure ignorance.Trends are not always foolproof they can turn on the dime and end real quick Volume happens to be the most important thing in trading,also price and trend pretty much means the same thing FYI.
Volume is principally an indication of Emotion. It is a key indicator but Price and Trend supercede all. Since the Fall of 2014 NAME has been range trading between $6 and change to $10 and change. Currently, the stock looks headed for $10 once again. That is why I said it has to CLEAR and HOLD above $10 to break that ongoing range pattern otherwise the stock is more than likely headed back to $7/6. Bill Ackman thought Price Trend didn’t matter either with his Valeant investment recently and lost a few Billion dollars as a result because he forgot the rules of Trading due to his massive EGO.