In announcing the appointment of Hodell, Chief Executive Hoby Darling touted his experience in turnarounds, saying he has "an important skill set that will be an added benefit to our current situation."
I would disagree that this would eliminate buyout theory. Especially in the case of private equity, they may see this as a bonus as its another hole that is filled (as they would need a CFO whether public or private and this CFO has plenty of private company experience) and a $300k a year CFO isn't going to scare off anybody with the money to do a buyout even if they hated the guy. I doubt that Skullcandy is shopping around for a suitor as of yet as there is plenty of value still to unlocked in the future and the people who own half the stock (the insiders) can cash out huge rather than meagre. Wescoat is old and doesn't fit with Hoby's new digital strategy. The fact also that Hodell left a presumably good job (he's still listed as CFO on the Shopzilla website) shows that he feels there is significant upside with Skullcandy and believe me he must have checked out the numbers and the story good before committing. Definitely a good sign, but it seems the market saw it as a negative as it would end imminent announcement of Skullcandy agreeing to a buyout.
To be precise 5.94 was my number. The LOD, so far, of 5.95 will probably get tested today so I could get my 5.94. But now, after 2.5 hours of trading, the daily volume extrapolates to 515k. So the daily volume is picking up to the downside and so I'm thinking today's low will get retested and that it wants to go ahead and test the low of Sept. 20th, the JOC/SOS, at 5.85. Sept 20th had 1.81M shares traded so not much chance that 5.85 will get taken out; not without a lot more cause.