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Byline: Jonah Keri
SafeNet cleared its 4 1/2-month base on May 27. But the stock quickly turned tail, falling the next three days. It made another attempt up Monday, but reversed downward into the close along with the rest of the market. It's 14% off its high.
The maker of encryption technology-equipped network security products used to secure e-commerce transactions returned to profitability four quarters ago after a rough late 2001 and early 2002. Year-over-year revenue growth has ramped up to triple digits compared with that down period as well. A total of 53 funds owned 2.2 million shares of SafeNet last quarter vs. ...