Mobile App Index update: 102.37 (-0.46%) for WE 5/13
Last week we defined the index and decided to add COOL to the list. Expect to see weekly update moving forward. May 5 is the start date and it was given an arbitrary value of 100. As of today, the index is now at 102.37, down for the week from 102.84 on 5/6. The only two gainers for the week were ROVI, and COBR.
As a way of demonstrating the value of this market, I have started purchasing each stock in the index around their earnings time. So far I have done this with good success for: COBR, GLUU and ROVI. Unfortunately VELT produced a loss. I now have a position in VRNG, which I expect will yield a positive result this week. Three for four does not seem like a bad success ratio given the simplicity of the investment approach using the index, and the overall return is around 30% in three weeks.
Lastly I have identifed some additional stocks to consider for the index: TBOW, EPOC, MITK. They exhibited the same behavior I'm seeing with the rest of the index: MITK went up significantly after their earnings announcement while TBOW and EPOC drifted down with the market. Comments on these additions or other stock suggestions are welcomed.
The Updated Mobile Applications Index:
| Name | Symbol |
| Vringo, Inc. | VRNG |
| Glu Mobile Inc. | GLUU |
| Rovi Corporation | ROVI |
| Cobra Electronics | COBR |
| Bango plc | BGO |
| The9 Limited (ADR) | NCTY |
| Vocus, Inc. | VOCS |
| Augme Technologies Inc | AUGT |
| Velti plc | VELT |
| Majesco | COOL |
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