Limelight Networks (LLNW): Friedman Billings Looks The Fool
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…
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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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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
