Adobe – too much pessimism leads to a huge pop

Tech stocks are hated. People are scared. All adobe did today was back their earnings number and the stock has risen 15 percent this morning.

I have been wrong on this stock and broke my rules by buying this stock at $28. I started buying at $38 so I am still underwater.

Like Akamai has benefitted from the need for net speed, so to myst Adove benefit from their near monopoly of video creation.

At least I hope so :)

Disclosure – Long Adobe