Alcatel-Lucent Drop…. Just Profit Taking? (ALU)

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By Jon C. Ogg Published
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Alcatel-Lucent SA (NYSE: ALU) has been on a stock on fire.  After managing to pull a rabbit out of the hat with its earnings report, shares have continued to recover.  Its stock chart was getting interesting with a move above $2.50 just yesterday.  In fact, this was getting back to the levels not seen since early November when the rug was yanked out from under investors.

All good things must come to an end.  Some contract award concerns may be at issue here, but there is a really a lack of fresh news.  It was less than two weeks ago when the report took shares to $2.19 from $1.94 and shares have literally only been down on one day (by two whole cents per ADR). 

Yesterday may have just marked the peak of buying, but today looks like some serious money was able to be taken off the table when you consider how much higher the trading volume has been in the last two weeks with shares rising each day.

Contact [email protected] for any questions or corrections.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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