Orckit Soars
Written by: Aaron Katsman | October 15, 2007
Aaron Katsman
www.IsraelNewsletter.com
Orckit Communications (ORCT), a leading provider of advanced telecom equipment targeting high capacity broadband services, is moving up over 9% during trading today on the hope of an announcement of a new client. Since Orckit was named as one of IsraelNewsletter Labor Day specials, the stock has soared more than 30%. Today’s rumors that Global Crossing(GLBC) is going to announce a deal with Orckit in the next few weeks, has helped investors regain some confidence in management. Management has been saying for months that they are about to sign a new customer, only to continue to delay their announcement. Just a reminder, right now Orckit has just one customer, KDDI, not exactly the way to grow a big business.
For all you traders out there, the stock has done very well during the 4th quarter over the last 3 years, and I would expect the positive momentum experienced over the last month and a half to continue.
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Disclosure: Author has a position in ORCT as of 10/15/07. Author has no holdings in any other stock mentioned.
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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
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