A Double Take on DoubleClick News
You know they are throwing the kitchen sink at this market when
Reuters
reports that
Jamie Kiggen
, one of my fave Net analysts, downgraded
DoubleClick
(DCLK)
over at
DLJ
.
Bristol-Myers
(BMY) - Get Bristol-Myers Squibb Company Report
, now
that I understand. But DoubleClick, now that's a half-the-distance personal foul. Someone would be thrown out of the game on that one, as DLJ just pushed DoubleClick.
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But chaos breeds chaos on these down days.
Reuters
had it wrong. Somebody else at
A. G. Edwards
said negatives about DoubleClick. No thumb in the nose of the good folks at A.G. Edwards, but a downgrade right after an upgrade by a DLJ analyst would have been devastating instead of just, well, curious.
Join the discussion on
TSC
Message Boards. Me, I am doing nothing but holding my DoubleClick. This stock would have been down with or without an upgrade. No sense in making a move right now. Wait until it settles. But
Reuters
can sure keep you on your toes with these mistakes! (
Hoo-hah!
)
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long DoubleClick. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at
jjcletters@thestreet.com.
