Looking into the tech market today, we’re seeing a sea of red. However, even on bad days in the market, there are always a few stocks that perform incredibly well. I was able to dig up a few tech stocks that are showing decent gains today; and may provide opportunities in the future. Here’s what I was able to find…
DealerTrack Technologies Stock Climbs On Acquisition
DealerTrack Technologies Inc (NASDAQ: TRAK)
DealerTrack Technologies stock is up in a big way today following news of an acquisition. Cox Automotive announced that it will be acquiring DealerTrack Technologies in an all-cash transaction with a value of $4 billion. That works out to be $63.25 per share. Currently, TRAK is trading at $62.74 per share after a gain of 57.44% so far today. However, with the cash value of each share of the company closing at $63.25; there’s still opportunity for gains. So, watch this one closely, if there’s a pull back before the finalization of the sale in the third quarter, it will be a strong opportunity for gains.
InvenSense Stock Gains On High Volume
InvenSense Inc (NYSE: INVN)
InvenSense stock is having a great day today. The positive momentum from the stock is coming from high volume. Over the past 3 months, the average amount of shares that have traded hands daily has been 1,495,350. However, today we’re definitely going to see that surpassed. So far today (12:12) shares have traded hands 1,482,224 times; and we’re only half way through. With a strong investor sentiment revolving around the stock, I would expect to see more gains moving forward. So, this is another one to keep a close eye on to look for pull backs. If you do see a decent pull back, it may be an open door to get in on the frenzy.
First Solar Stock Climbs On Efficiency Record
First Solar, Inc. (NASDAQ: FSLR)
Finally, First Solar is having a great day in the market today after announcing that it has set the world record for cadmium-telluride (CdTe) photovoltaic (PV) module conversion efficiency. In a statement, the company said that they had “demonstrated a record module that is more efficient than the best multi-crystaline module recorded”. On the break of the news FSLR started on a bullish climb to the top, and that doesn’t seem to be stopping any time soon. However, in all bullish activity, we tend to find pull backs. So, watch this one closely for your opportunity to enter.
Have You Seen Any Other Notable Movers In Tech?
If so, let us know in the comments below!