Banzai Akamai
August 28th, 2006 by BWV
Akamai (AKAM) is a true bubble survivor. I can’t claim to understand it precisely, but their business model is apparently firing right now. The profile on yahoo finance is gibberish, read the wikipedia page here if interested.
In a moment that may still haunt some portfolio manager, the stock traded for 56 cents at the October 2002 bottom.
Well, somebody got their mojo back.
I couldn’t help but notice the huge volume gap up after their 2q earnings release. Moves that powerful follow tend to follow thru in many cases.
We had established a position only days earlier when my good friend (and insanely young MSFT/SYMC alum), Tim Johnson, called to say he was taking a job with the company. Tim knows the tech business cold and has historically hitched his wagon to winners.
Alliteration aside, for my purposes, that fact nicely complements the sweet chart setup.
Long AKAM
