Every time there is an analyst that comes out with a bullish report, like the JPM note a few weeks ago, the stock goes down, and everytime an analyst comes out with a bearish report the stock goes down. Why do you think? I have told this board why, this stock remains under attack. Just becasue it ran into the last two cc's does not mean that will happen this time. That is the bad news, the good news is we are at a very low PPS and one would think the upcoming cc might give us some upward movement. Boy WS loves to hate this company and the sharks in the water know it!
Yes, WS hates OVTI. You have to think why WS hate OVTI. Remember WS is not an entitiy with emotions. Its disrespect of OVTI is based on good causes. As long as these causes are removed, this stock will be constantly under attack.
The causes? 1. Non-transparecy of management 2. One way (top-down) management 3. Disregard of shareholder interest 4. Exclusive nature of Board of Trustees of all Chinese ethnicity 5. Very low stock ownership among top management. Mr. Hong directly owns 0 shares. 6. Very low growth target and tendency of announcing the bad news at the very lsat moment 7. Under utilization of its most valuable cash asset 8. Bad communication to shareholders and no clear picture on its growth plan other vague plan of expanding to automobile market. WFM technology is still controversial among tehnical community ranging from fraud/wrong to impractical/over promised.