Bargain Hunting in Data Center Stocks?
March 24th, 2008 By: Rich Miller
The last couple of months have been brutal for the share prices of public companies in the data center industry. Sentiment may have turned today, as a number of battered data center stocks scored double-digit gains. Here’s a recap of the gainers in the sector:
- Shares of Savvis (SVVS) gained 14.5 percent, rising $2.22 to $17.51 a share.
- Level 3 (LVLT) added 24 cents a share to $2.10, and improvement of 12.9 percent.
- Equinix (EQIX) improved by $6.86 per share to close at $64.64, up 11.9 percent on the day.
- CDN specialist Limelight Networks (LLNW) was up 10.4 percent on the session, rising 34 cents to $3.60.
- Switch and Data (SDXC) gained 83 cents a share to $9.67, up 9.4 percent.
- Akamai (AKAM) shares were 7.5 percent higher, moving up $2.28 to $32.87.
Next week we’ll look at the first quarter performance of data center companies, and it won’t be pretty. But today’s session suggests that some investors believe data center stocks are attractive at these prices.