Is it Time to Buy Mellanox Technologies?
A&G Capital CIO Hilary Kramer, Tea Party News Network News Director Scottie Nell Hughes, FBN’s Charles Payne and Penn Financial Group founder Matt McCall on the outlook for Mellanox Technologies.
Today’s stock recommendation is Mellanox Technologies (NASDAQ:MLNX).
It’s an Israeli tech company, and it’s a trailblazing company. Their products have been really hot and they’re in all the hot areas of computing: high performance computing, Web 2.0, storage, data center and using Ethernet and InfiniBand solutions.
They deliver, and low latency is where they have been ahead of the game. Low latency equals fast delivery of all your data.
The stock was an absolute juggernaut. But I have to tell you, there was inconsistent execution and then persistent scuttlebutt. There was talk of all the big names moving in on Mellanox’s turf. It hurt the company, and it hurt the share price.
However, there was a big win today. I think it’s a sign of more to come.
I will tell you this is a volatile stock. For the most part, I think it’s good long term or short term, but Mellanox is really better for seasoned traders.
Now the stock made a technical breakout through $45. I’m looking for it to go to $53-$55. I love it short term. I do think in the long term it’s going to get back up there, but it’s an extremely volatile ride and not for the faint of heart.
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