What A Difference A Day Makes
October 14th, 2008 By: Rich Miller
Monday’s record 936-point gain in the Dow Jones Industrial Average didn’t entirely undo the damage from last week. But the shift in sentiment is a relief, and today’s announcement of the latest government rescue plan has boosted stock futures this morning, suggesting another morning rally. Here’s a look at our updated chart of the stock performance of data center shares for the month of October, which looks quite a bit better than the chart we posted on Friday:
Several companies in the battered data center sector have bounced back nicely, apparently benefiting from investors searching for undervalued shares. Digital Realty Trust topped the list of shares that investors were “buying on weakness” – stocks which fell in price but had the largest inflow of money – and is now unchanges for the month. Content delivery networks Limelight Networks (LLNW) and Akamai Technologies (AKAM) have also regained some ground, with Limelight moving into positive territory.