Friday, September 23, 2011

Mobile App Index: 70.76(-4.91%) WE 9/23/11

Foreign stocks fell substantially (EEM -11.47%) this past week. Relative to the main US indices (DJI -5.79%, Nasdaq -4.75%, S&P 500 -6%), the MobiAppIndex responded equally -- an interesting comparison. Maybe this behavioral difference is due to the international stocks in the index.

Winners: COBR +2.35%, P +5.29%
Losers: MITK (-11.32%), GLUU (-16.57%), VOCS (-10.87%), ROVI (-5.17%)
The news indicates that MITK may be experiencing some profit taking due to its' positive results over the past few months.

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