Nice rebound in F5 Networks (FFIV)

FFIV is the 3rd largest holding in the fund @ 3.2%

The stock is up 7% in the early morning action. The company announced a relatively smallish acquisition earlier this week, all in cash - hence no dilution. Yet the stock cratered from the upper 80s to low 70s, where I made my first buy. The stock followed with another severe downward move the next day to the mid 60s. I doubled my position there.

Original post about building a position in FFIV

The stock was upgraded today but still sits below a key level, its 200 day moving average around $75. So without a quick move back above it, the stock could be stuck there for a while. While F5 is not my favorite stock in the networking space, its ridiculous fall created a buying opportunity that was just too hard to pass up. The stock is currently around $71.

No position