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GT Advanced Technologies Inc. Message Board

  • candlestick1st candlestick1st Nov 14, 2012 12:38 PM Flag

    I don't know too much,but looks wayy oversold to me!

    Looks like MM's are covering 100 shrs at a time for 3.505 so it doesn't look like alot of buyers.
    JMHO,always do your own due diligence.
    all the best to longs...

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    • management still painted a rosy picture when the industry solar already was in complete turmoil. "Don't bother, we will take in billions of sapphire business instead" the CEO said. All wrong. For some quarters now the net order intake has been below zero as cancellations and push-outs eat heavily into the backlog.

      Even worse the company has accumulated a sizeable debtload during this downturn and only recently admitted the urgent need to rightsize the company as soon as possible. With factory closures and layoffs going on you can be quite sure management doesn't believe in any uptick in the business anytime soon.

      And don't count on the cash on the balance sheet - most of it is either restricted or located overseas (perhaps it even isn't anywhere it all) so the company can't access it to pay the everyday bills in the U.S. Because of this they had to do a huge convertible offering recently which more than tripled the debtload.

      As evidenced in the last few quarters customers are doing virtually everything to cancel or at least push-out orders, so expect this trend to go on for the time being.

      Clearly the company needs a big pick-up in business activity within the next few quarters otherwise they will have burned down all cash reserves. As evidenced by the recent layoffs management doesn't bet on this pickup anymore. So I wouldn't be surprised if there's going to be a management shake up first, an accounting scandal next and a chapter 11 filing within the next 24 months.

      Stay away form this company.

 
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