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  • byorsell byorsell Jul 15, 2004 1:01 PM Flag

    According to Quote.com

    The day they announced the IBM thing the stock traded up to $3.30 in pre-market. They followed that PR with a pre-announcement on Q2 and the earnings were about right but the revenues were light about $1.5 million. Had the revenues been in line and the eps been the same the stock would have traded over $4 that day easily. But that was not the case. So they were short one simple-minded analysts numbers one quarter and since that day the value of the company has drop nearly $25 million....because they were short $1.5 in revenues and essentially made as much money as they would have in either case. That's classic over-reaction.

    Now factor in that the stock has fallen on about 1/3 average daily volume.

    What was the shorts' argument again?

 
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