It worked for me and I don't pay for it.
Just an observation, I have played rebound stocks before, and if you are only in for a quick rebound (10-15%), they often work, its when I have gotten greedy that they have failed me. If the recent posting of inventory returns is correct, I would not want to hold this company.
When I pick a stock that can't go any lower sure enough it does. I, sad to say, have found the hard way you don't pick stocks that are down or on the way down looking (hoping) for a turn around; the surprises they sometimes give you are once in a great while they bounce up 0.01 percent for a couple of trades.
Craps are more fun.
article on page B-17 was negative. it gave the impression that the ceo was resigning to supplicate the new young guy.
i'm not much of a stock picker but put me down for 800 shares.
even if the new guy is a bone head it can't get much lower than this.
I don't presently hold any EGHT shares, however I am a former shareholder. I still glance at the stock once in a while to
see what's going on. I was pretty shocked when I saw today's activity. I just wanted to say that EGHT has very sound products,
and although I'm sure some of you are sweating, you should try and remember why you bought the stock in the first place. I'm
probably going to get back in, since this looks like a great buying opportunity to me. By the way, I sold EGHT at 15 1/8 a few months
ago. I wouldn't be surprised to see it back in that range in the not too distant future.
It seems to me that if you are a long term investor (and I'm not talking 6 mo to a year, I mean 3,5 or 10) and you believe in the product, you can't go wrong with this stock. In 2005 we may not even remember who J.P was!!
To check out form 144 filings, contact the SEC's EDGAR site.
However, in order to actually view form 144's, you need to subscribe to EDGAR and pay a $2 fee per 144 viewing. This can be onerous since you don't know before you pay the $2 whether you are going to be reviewing a form 144 for 1MM shares by Joe Parkinson or a form 144 from some cousin of the original broker from Kansas for a paltry 1000 share block.
Best way is to let your broker to get a report on his nickel through Bloomberg.
Other reports (10K's, 10Q's, and certain other filings) can be viewed for free on EDGAR.
Can you or anyone tell me, how does one check on Form 144 filings via the web??
>> There was a Form 144 filing during the week of 1/9/98 by 1 person for 70,000 shares with the stock at 11.00 at the time. No name or position was given. <<
I agree that it would be illogical for him to sell after this horrible dip in price, but is there a way that he could have sold prior to his resignation announcement? I called the company and left several messages, but no one is responding...anyone out there have any definite answers? Anyone on this thread working for 8x8? Why didn't the earnings surprise compensate for the resignation announcement? Any other stock would have zoomed up, not down, on the positive news...
Here's the news release that someone mentioned earlier, but didn't get the URL right:
10:35 ET ******
8x8 INC (EGHT) 7 1/2 -3 1/8. Another momentum play bites the dust. The shares of this Santa Clara, Ca-based
supplier of video conferencing technology is being torn apart by investors after the company told Wall Street to expect
slower sequential top-line growth. The fact that 8x8 reported blowout 3rd qtr results does not appear to matter.
For the period, EGHT made $15.1 million, or $0.01 a share, reversing year-ago red ink of $0.13 a share and
blowing away Wall Street's $0.14 a share loss estimate. But it takes top- and bottom-line momentum to
move a momentum stock and, according to 8x8, it will not be able to maintain the torrid growth rate that investors have
become accustomed to. According to the company, OEMs were stocking their channels for market entry in late-1997
and, as a result, EGHT expects sales to OEMs to slow in the 4th qtr as the OEMs unwind the inventory. Also
surprising the market was the announcement of the resignation of the company's chairman and CEO Joe
Parkinson. This unexpected news is also weighing heavily on the stock, as investors ponder the reasons for Mr.
Parkinson's move. Given the plethora of reports of shady dealings at hyper-growth tech companies over the past two
years, such caution is warranted. You can be certain, however, that many investors will see today's 29% retreat as an
huge buying opportunity, given the company's extremely attractive numbers, which include a P/E of only 14 versus
expectations for long-term growth rate of 40%.