Update: Ellie Mae Weakness Gives us a Buying Opportunity

Ellie Mae was hit hard by earnings and guidance, but as we said, buying should be aggressive below $100.

Uncommon Idea: Mortgage Software Ellie Mae ELLI

The company holds no debt and continues to increase its cash position, now around $13 per share. While traditional fundamentals won’t draw investors into the stock, the strong cash position and aggressive growth translate to a buy for momentum investors with a slightly more aggressive palate.