Aaron Katsman
www.IsraelNewsletter.com
Verint Systems(VRNT.pk) surged today on much heavier than normal volume. The stocked moved up over 16%, on no news. What was interesting was that at a little bit after noon ET, a huge block of over 400,000 shares was purchased. That’s more volume in one trade than we have seen over many of the last trading days combined. It seems to me that an institution wanted in. We have seen JP Morgan upgrade the stock recently. Most institutional investors have been unable to buy the stock due to the aforementioned volume issues, but it seems that one of them bit the bullet, and couldn’t resist buying the stock at these levels, even though it meant raising the price.
Disclosure: Author’s fund holds a position in VRNT.pk and is long the stock as of 12/18/07.
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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is 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.
About Aaron Katsman