NEW YORK ( TheStreet) -- This past week is further proof that there is never a dull moment in the markets. While value investing may at times seem as exciting as watching paint dry, or grass grow; I'm never bored. There's plenty happening on the Street in any given week that holds my attention, or leaves me shaking my head in disbelief.Yesterday, Research in Motion ( RIMM), which had just about descended into net/net territory, reported a better than expected quarter, on both the revenue and earnings front, sending shares up nearly 20% in after-hours trading. That's the thing about companies trading below net current asset value; it's often such a depressed valuation that any good or unexpected news is like rocket fuel for the stock price. Based on new balance sheet data, and assuming yesterday's late-day share price rise, RIMM would trade at about 1.35 times net current asset value. Cash and short-term investments rose from $1.94 billion last quarter, to $2.065 billion. The plot thickens for Research in Motion as the market declares that the company's presumed death may have been premature. RIMM data by YCharts
On to the ridiculous, in my view anyway. Thursday Facebook ( FB) announced functionality that will allow users to purchase gifts for friends. I don't know, maybe this will help with ad revenue, and put some bounce back in the company's step, but I certainly won't be participating. I still do think that Facebook shares are over-priced, and can't justify the current $43 billion plus market cap. We'll see how the "gift" application strategy works; it would not be surprising to see a short-term bump in share price, but the jury remains out as to whether Facebook users will begin to use the site as an on-line retailer. In one of the more interesting developments involving underfollowed small caps, shares of Blyth (BTH) Blyth ( BTH) , which direct markets a plethora of home goods, gourmet foods, and nutritional products, has had a very rough week.
And finally, more IPO news this week in the restaurant space, which has been very active very active in that regard this past year. Dave & Buster's set its IPO price range at between $12 and $14 per share. This I not the first time to the dance for D&B; they were publicly traded between 1997 and 2006, before being taken private. Can't wait for next week! This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.