Look at last 6 months Akamai chart. The stock was progressing at steady 10% since October. And after that, a sudden spike became visible. This sudden spike happened after December 15. The rise after December 15 is over 15% in just 7 days. You will know the reason why.
The reason for the rise is an investment – An investment by an activist investment firm. This firm founded by a 73-year-old genius was founded in 1977. Since then, the company has produced a 14% annual return for its investors. Now you will know the name of the firm.
The investment firm, Elliott Management Corporation, is known for activist investments. As any good activist investor, the firm would actively work to increase shareholder value. Any investment by this fund founded by Paul Singer instantly instills confidence among investors. The same has happened in case of Akamai.
Elliott Corporation bought around 6% in Akamai. This buy is good enough for the market to follow resulting in 14% rise in a week.