Good Volume Surge in the Market
Most of the tech stocks were up big today, including RIMM, N, and ORCL. NetSuite ended up with $39.14, a little less than $40. People are beginning to think that NetSuite is overvalued, just like VMW. As mentioned earlier, NetSuite needs to start making money ASAP so they can be profit. Their concept is good, but needs revenue to stay in business.
On the other hand, Circuit City (CC) is losing its grip. They just posted extremely disappointing 3rd quarter results. They lost $207.3 million compared to $20.4 million last year. The problem is that even though their sales remained the same, their profits tumble. This is because BestBuy took a lot of business away from Circuit City. It is sitting at 4.75 right now and I believe it will drop even more. One good thing is that Circuit City will open 60 "The City" stores next year.