He now owns ZERO shares directly. All his holdings are now options. And he's been dumping them as well, as of Nov 30.
Not exactly a vote of confidence!
I am not yet dismissing you as a wanna be Greenslime, but when you use worldcom as an example, your dismissal is coming soon.
The difference then and now is Sar/Oxley and jailtime for the violators. A misstep is not a criminal act. A inquiry is not an "investigation" as you put it. You want to bash the stock well it is a free board, go ahead.
I personally would like for you to put your money where your big mouth is and short the stock in the morning and I would also like to see you lose your f*****ing shirt and your house while doing it.
That's why they brought in a new CFO. Also don't discount the power of the shareholder which I feel "forced" management a few weeks ago into providing a response albeit a lackluster one to Greenberg's bull
Like I said, they have great technology. If the mgmt only knew how to manage a public company, they would be dangerous.
The new chips were announced last summer, and the news is in the stock.
If you have learned anything from the post-bubble era, never ever ever ignore management missteps. Your attitude is exactly what people who were long Worldcom said on the way down.
Au contraire ma cher: What you say is in part true, but the fact is that they have a great record doing product transitions. This qtr will be the test. Can they go from 84 mil in revenue to low end of 96 mil this qtr as they have forecasted? If they really do make the growth jump then I don't really care about missteps in management that have until proven otherwise been totally blown out of proportion.
KKD initially called it an "informal inquiry" also.
Whatever gets you through the night, dude. If this company didn't have a history of shocking investors, it would be easy to dismiss as just an administrative snafu. But even with the rally off the summer lows, OVTI still remains below where it was when they announced their accounting screwups last June.
The company does have great technology, I'll agree with that. The best thing they could do is have the CEO resign and the company hire someone who knows what the hell he is doing. Until then, hope for the best, but expect the worst.
It has nothing to do with confidence. The man is CEO of a company and it looks like he gets a salary of around 300K and then he gets the rest in restricted stock. So it makes perfect sense to me that he would be selling those shares so he can drive a CEO type car and live in a CEO type house. Also, smart investors know not to put all their eggs in one basket, even if it is your own basket. I would expect him to be selling so he could diversify his portfolio. Why should he buy shares on the market when he has more cheap options than he knows what to do with?