Acme Packet Rising On Heavy Volume (APKT)

Shares of Acme Packet APKT are bouncing back from a disappointing earnings report last week that sent the stock plummeting. The stock has surged 5% to $28.47 during Tuesday's trading session. Prior to reporting earnings, however, APKT was trading above $32. Volume has been on the heavy side with 1.84 million shares already trading hands with three hours left in the trading day versus a daily average of around 1.36 million shares. Year-to-date, APKT has been an incredible performer, rising nearly 160%. The company has a market cap of $1.77 billion and the stock is trading at a trailing P/E of over 60. Acme Packet, Inc. provides session border controllers (SBCs) that enable service providers, enterprises, government agencies and contact centers to deliver interactive communications, such as voice, video and other real-time multimedia sessions, across Internet protocol (IP) network borders.