New Focus Gets Gilder Boost
New Focus, well off its earlier high of around $165, rose $6.34 to $39.06, in midafternoon trading. Yesterday, when the newsletter was released to the public, the stock rallied roughly 40 percent, fueled by a combination of the Gilder recommendation and the Nasdaq's biggest one-day rally in history.
Avanex Corp. (Nasdaq: AVNX), a previous Gilder pick, was also on the move today, climbing $18.05 to $69.44 this afternoon. Avanex, however, is also down considerably from its high of more than $273.
Gilder had been rumored to be putting New Focus on his October list, but he instead added Exodus Communications Inc. (Nasdaq: EXDS) and Cypress Semiconductor (NYSE: CY) at that time (see Exodus, Cypress Get Gildered).
-- Phil Harvey, senior editor, Light Reading http://www.lightreading.com