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On July 18, Friedman Billings put an "outperform" on Limelight Networks. The shares closed at $16.85 that day. Today, the stock is off over 17% to under $12.
What Friedman did not see was that there is s price war going on in the content delivery network business. It involves that largest company in the business, Akamai (AKAM), and that stock has fallen from $47 to under $33 in two weeks. The third company in the competition is Internap (INAP). Its shares have fallen from over $15 to $14 in the last two weeks.
It seems that the research firm missed that point.
Douglas A. McIntyre
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