ACAS has rocketed over $8 today as the market has moved broadly up on summer economic growth numbers and slightly-lower jobless claims. ACAS' portfolio companies should be expected to move in value with their publicly-traded comparables, but there's something else afoot. Zacks just added ACAS to a list of #1 Rank ("Strong Buy") stocks. The five added to this ranking yesterday include Duke Energy (DUK), Bebe Stores (BEBE), AMAG Pharmaceuticals (AMAG), and software developer Fortinet (FTNT).
Are people buying on the market, or on something as ephemeral as a ranking change?
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