Quick buy note (CKCM)
Don't have anything of substance to say about Click Commerce (CKCM) and their business (I did plenty of that here and in other previous posts ... but I wanted to note that I did buy a small additional portion in after hours trading this evening.
CKCM announced around mid-afternoon on Friday that they would be delaying the filing of their 10-K (WFR, incidentally, announced the same thing today). The stock has a big short position and seems often to be in the grip of momentum traders, and I thought the shares wildly overreacted to the news, dipping by more than 10%.
So I took advantage of the sale and picked up a little more CKCM in after hours trading today at $20.40. I could be wrong, but I don't think so. Click even went so far as to issue a press release reaffirming that the filing was not due to any significant issues with the numbers -- and I'm guessing that if that press release had come out concurrently with the SEC filing there wouldn't have been any dip at all. I think the overreaction will work itself out within a brief period next week, and the company's business has not been at all impacted by their brief delay in filing -- a delay we're seeing a lot this year as companies, particularly small companies, struggle with the Sarbanes-Oxley rules.
CKCM announced around mid-afternoon on Friday that they would be delaying the filing of their 10-K (WFR, incidentally, announced the same thing today). The stock has a big short position and seems often to be in the grip of momentum traders, and I thought the shares wildly overreacted to the news, dipping by more than 10%.
So I took advantage of the sale and picked up a little more CKCM in after hours trading today at $20.40. I could be wrong, but I don't think so. Click even went so far as to issue a press release reaffirming that the filing was not due to any significant issues with the numbers -- and I'm guessing that if that press release had come out concurrently with the SEC filing there wouldn't have been any dip at all. I think the overreaction will work itself out within a brief period next week, and the company's business has not been at all impacted by their brief delay in filing -- a delay we're seeing a lot this year as companies, particularly small companies, struggle with the Sarbanes-Oxley rules.
This article posted by One Guy @ 3/17/2006 08:35:00 PM 1 comments
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