Fri, May 24, 2013, 2:31 PM EDT - U.S. Markets close in 1 hr 29 mins
Louis Hernandez, the new CEO brought in to sell the company.
He has done this successfully in the past at other companies.
Time to buy!
The new CEO better right this ship or else it is going under quick. The stock dropped almost 9% yesterday.
Sentiment: Strong Sell
The numerous lawsuits being filed against them isn't helping matters either.
But who would buy Avid? Adobe has Premier which they have based their video future on, and Apple has no interest in Avid. Blackmagic, perhaps? Sony? Avid is a very, very small company with a tiny market cap - easy to buy, but who will take a chance?
AVID is very modestly valued with over $70mm cash and no debt.
A private equity could acquire AVID and sell it in pieces doubling or tripling their $$$ in a very short time.
All the law suits are nuisance suits by ambulance chasers and will not prevail.