Cloud Services and Cloud Computing Stocks Finally Rally
Every cloud services and cloud computing company in our Talkin’ Cloud Stock Index saw their shares rise for the week ending August 26, 2011. In fact, the index rose 8.2 percent on the week. Although we’re not making any stock predictions, the cloud buzz should continue this week as major conferences like Dreamforce and VMworld keep the spotlight on cloud computing.
Before we take a look at the biggest weekly winners, here’s our standard warning, which is more relevant than ever in these tumultuous times: Talkin’ Cloud maintains the stock index to measure cloud realities vs. cloud hype. We don’t offer specific financial advice, and whether you buy, sell, or hold is up to you and you alone.
For the week ending August 26, 2011, the biggest winners in our Talkin’ Cloud Stock Index included:
- SaaS health care provider Athenahealth (ATHN) was first by a mile last week with a 16.13 percent jump amid major analyst hype. Athenahealth is currently leading the Talkin’ Cloud Stock index with overall an 40.92% change since 2011 began.
- Open source mainstay Red Hat (RHT) took second place last week with a 12.65 percent gain to $35.90 per share. Red Hat continues to push beyond Linux to promote virtualization and cloud computing.
- Concur Technologies (CNQR) boosted a solid 12.17 percent weekly gain. Apparently, the employee spend management specialist caught the interest of short sellers this past week, but still managed to come out far ahead by the closing bell.
The last statistic I want to mention is that the Talkin’ Cloud Stock Index is still down 6.84 percent since January 1, 2011. The index showed incredible strength during Q1 2011, but since that time shares in cloud computing companies and cloud services providers have been on a violent roller coaster ride, much like the broader financial markets.