The first traders of the day thought the quarterly report was positive and bought. But the market turned and the short term or shakey investors decided to take profits or bail. The tech sector got hit hard and DIOD was tossed with the bath water. At 14.32 DIOD seemed too promising to ignore, so I bought more - and optimistically - but with glasses not quite as rosy as some. If DIOD regains its previous high in two years, I'll be delighted
In my opinion they were very good earnings numbers. Revenue exceeded guidance, very good cash flow, improving operational efficiency, and ramping demand. From a business point of view, DIOD is at the coiled spring stage.
The stock is down today on the classic runup to good earnings short term phenom of 'buy on the rumor, sell on the news'. DIOD should soon return to its steady march to $40 and another 3 for 2 split.