I just noticed Seagate's (STX) drop this morning. Their revenue and earnings and performance were actually really really good, just a tiny bit below consensus. Bodes well for the industry, including HTCH. But perhaps the STX drop momentarily took HTCH with it. I still think it was just a single silly long who bailed at the market.
Your faster than me. I didn't see it in time but I did buy some at a 3.67 avg. Looks like some fool put in a large market sell and then I saw 75,000 shares at the ask at 3.60, they were gone fast. I sort of think this was just some foolish person, reminds me of the drop the day of earnings about 2 or 3 quarters ago. A day later the stock was much higher. Weird....but that's the world of hdd stocks.
hdd stocks definitely live in a weird world. Going way back....I think the the latish 90's, I can remember when Applied Magnetics tried to buy the much bigger Hutchinson. Hutchinson was far bigger in sales, market cap, and everything. Applied Magnetics needed Hutch cause they didnt have the technology required for the future. The huge APM bid (all stock) was ignored by HTCH, and Apm went out of biz a few years later.
Point is, the HDD sub assemblers were considered the dregs of the tech world way back then, and they still are now.
Of course in the case of HTCH right now, its pretty darn cheap...especially if prospects get a bit better as the year progresses.