I guess it might be a part of that, and also missing analysts expectations. More importantly, ATV announced it's 2007 rev expectations at 240-265M, which is below analysts expectations of 268.6M for the year.
I don't have access to the Merrill report.
I guess for the retail investor it boils down to guesswork and belief in the long term potential for this kind of business in China.
I'd like to know how QVC's entry into China will effect ATV.