Diamonds and Dogs
Raxspace is racking up the gains today, rallying 13% to $42.25. The number one managed cloud company announced better than expected earnings results last night as the company saw its' best sequential revenue growth in almost two years. The company is signing more large deals of over $100k/month with a robust pipeline that modes well into year end and 2015. It looks like Raxspace is back on track.
It been two weeks, but Alibaba finally had a down day, dropping 3.87% to $114.54. The last 24 hours was 'Singles Day' in China, November 11th, their version of our Black Friday. Alibaba shattered their previous record, generating $9.3 billion in sales in one day. No matter how strong the sales numbers were going to be, Alibaba's stock was due for a pullback following a 40% gain in just four weeks. Now the big question is can Alibaba consolidate these gains and end the year at new highs?