1. Immediately put jctuttle13 on Ignore. Listening to him would have you down tens of thousands of dollars, as he was pumping all the way down.
2. Sell on the rise into earnings. Take profits before you get Hong'd.
Sounds like you've got the story in a nutshell.The stock was severely sold off on a false rumor started by an analyst most likely for his short clients that ovti was not in the new ipads at all.When in fact it was proven on friday that they have all 4 slots in the new ipads.
Either total reckless in competence on the part of the analyst or intentional corrupt price manipulation on behalf of his short clients.Most likely the latter.
let me assume that you've been on boards before, but let me emphasize that my point is that you seldom find anybody who lacks either an agenda or a strong set of beliefs on these.
Yes, this Board probably has or had a couple of trash-talkers, who posted along the lines of "see you in single digits." ... But the bulls - to my way of thinking - are just about equally in love with the company and can see no wrong. One of them posted that he would "never" sell when the P/E (let's skip the footnotes on that one) was less than 10, ... but my guess is that if it got to 15 or 25 or 35 - hopefully, because they "struck oil," he/she/they would find a justification to say that it was still undervalued.
My point is that even if the short version of the story is accurate - leaving aside whether the analyst in question was crooked as a stick or not - today's gain probably takes back just the last few days of sell-off. That's several days out of a month or 2 or 3.
The next issue is whether the company's leadership - and I'm on record as saying they've failed to impress ... and not just me - was doing the traditional "talk down" expectations, so you can maybe beat by quite a bit ... or whether they (as they should) are closer to the situation than anybody and were happier seeing the stock "walked down" than to have a down 20% day, together with lawsuits if/when a horror show quarter gets reported.
I go back far enuf with OVTI to know that - whether it's true of bigger, better companies in its space or not - they have had quarters where "quality control" and "new equipment" (with vendors definitely not under their thumb) knocked the stuffing out of the results that might have been.
SO, if you take an optimistic view - I *am* long in this stock as of now - you say that today's action is the beginning of a nice long run, especially since there probably is a monster short position to goose things on the way up.... Or - efficient market ? - now the stock is fairly valued - at 14.4