Wednesday, March 11, 2009

GLW 12% Move to the upside

GLW was up over 12% yesterday mostly due to the general strength of the Nasdaq and retailers which this company follows very closely. Because GLW is held heavily by institutions it is often subject to more volatility than the general market. A possible justification of the large swing is the talk of reimplementation of the uptick rule which could have led to institutions closing short positions. Since GLW is a major institutional holding, both on the long and short end, the stock price would benefit positively from this; more so then the general market.

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