Cheap Stocks 21 Net/Net Index Down 3.1% for Week ended 2/29/08
The Cheap Stocks 21 Net/Net Index ended the week at 95.53, down 3.1%. Since inception (2/12/08), the index is down 4.47%. Much of the damage occurred today, as broad markets were hit hard.
Winners for the day included Medicinova (MNVS) up 4.4%, and Nu Horizons Electronics, up 2.2%. Losers outpaced winners by a 17 to 4 margin, and included Ditech Networks (DITC) down 9%, Emerson Radio (MSN) down 7.7% and Parlux Fragrances (PARL) down 7.1%.
The index is off to quite a start--launched less than 3 weeks ago, and already down nearly 4.5%. This is not unexpected given the attributes of index constituents, and volatile markets. Stay tuned for updates.
*The author does not have positions in any of the companies that comprise The Cheap Stocks 21 Net/Net Index. This is neither a recommendation to buy or sell any securities. All information provided believed to be reliable and presented for information purposes only. The author will not trade any of the securities mentioned (buy, sell, short) for at least two weeks following the date of this post.