Net Tangible Assets are dropping over last three years. Why???
Acquisitions. Notice Goodwill has increased accordingly. On acquisitions, companies often book much of the purchase price to Goodwill so that the amount can be amortized as depreciation expense over time. Goodwill is not considered a tangible asset.
I agree with you on the low volume, but the manipulators are far from stupid. Notice the call bids hardly changed with the drop from 61.80 to 61.00. If they can toss this around and load up on cheap options before earnings, they will. I've watched this issue for nearly a decade....this is not unusual.
Earnings this q will be nothing special, may even miss, but I think orders will be up, and that's all it will take to drive this back toward $80.