Remember when VMWare CFO resigned. Stock was down 5-6 bucks but went up the next day. It all depends on the market and options right now. However the drop seems overdone. Maybe a 2-3 pt drop but down to 100-101 is ridiculous.
This could be taken as a big deal for a few reasons.
- What is the real reason he is leaving? - Was he pushed or did he get a great offer somewhere else? - Was he a well liked and respected leader? - Will others follow him? - How well liked and respected is his replacement?