The Power of a Rumor
Shares of Napster (NAPS) exploded higher today on the rumor that it was going to be bought out by Google (GOOG).
It’s not true, but that’s only slightly hurt the rally.
Update: The rumor started with the New York Post. Napster closed 25% higher.
Posted by Eddy Elfenbein on January 31st, 2006 at 1:16 pm
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Eddy Elfenbein is a Washington, DC-based speaker, portfolio manager and editor of the blog Crossing Wall Street. His