I was happy that my investment club members at Seton Hall were around to watch, listen and observe the Omniture (OMTR) earning release, conference call and after hours trading activity last evening. The stock got slammed after hours on a great quarter and guidance.
I showed the kids how the stock was being walked down by 100 share sales constantly hitting the bid after hours. The stock dropped roughly 13% before the conference call began. This was a major gift to anyone who could trade after hours. More importantly, I pointed out that one could not read into that low volume after-hours blitzkrieg.
During the conference call OMTR regained some ground as the after-hours manipulation ceased. It is now up 10% on the day in a real trading session. If you believe as I do in the long term growth of internet advertising, then I suggest taking a look at OMTR. Oppenheimer recently put out a well written report on the stock.Disclosure: At the time of this Blog entry Scott Rothbort, his family and or clients of LakeView Asset Management, LLC were long shares of OMTR.