Just like the apple news, we have to go off of what we know. In the October earnings call, Nasiri responded:
"Fundamentally, after 10 years of driving the company to where I have been expecting in vision and basically exceeded all of my own expectations, board has felt that for the next stage of the company it’s perhaps time to transition to a new CEO. "
I take that to mean that the "next stage" is a growing public company. I take "perhaps" to mean that he probably doesn't agree.
In the press release of the announcement, new CEO Abdi said "I am excited to work with the InvenSense team during the next phase of the company and realize our vision of building the undisputed leader in MEMS technology."
I take "next phase" and "realize our vision of building the undisputed leader" to also mean that the next phase is to grow this company. Nasiri sold companies before this one so it is also a possibility that Nasiri wanted to sell when the Board wanted to grow. I think any other theories are unlikely based on what we know.
Sentiment: Strong Buy
Rzkeller, I like your insight. There's simply too much put into why the CEO left. Much unfounded accusations which I find absurd. It's not uncommon that the founder of a publicly traded *TECH* company is replaced by a capable *manager*. This happens so often it should almost be *understood*. Why a tech company vs any other industry? Because engineers are not good managers, many don't have the necessary business, accounting, marketing and sales background necessary to drive a company from ... let's say startup or early stage to maturity. I'm surprised he lasted this long. He probably should of been just Chairman and not the CEO going into the IPO. And have any of you worked with programmers or engineers in your careers? Have you ever met one at your work, where you thought "Damn, this engineer/programmer should be CEO of the company!". I'm not knocking engineers or programmers, they are very bright, but most are technically bright, not business savvy. A rather big generalization, I apologize, but I'm trying to make a point that you can understand.
Why not just sell your stock and move on to something else? I think a lot of the stress is from your own doing. Are you a trader or are you an investor? If you're trading this stock, then simply trade it. Have your stop losses in place so you don't take that big hit. If you're a long-term investor, then you should be happy its coming down, that just means you can buy more at a cheaper price. What you've done here was mix and match strategy which got you into this mess in the first place. I've seen your posts in the past, yapping about it going to a particular price today, or a particular price tomorrow, which puts you into the trader category. Which is fine, but you have absolutely no strategy in place if your trade turns against you. Haven't you heard of cutting your losses so you can live to fight another day? That obviously isn't part of your game , hence now you've switched from trading to riding it out, which always leads to a mess. Lucky for you, you'll probably make out ok, if you can stand to ride this out for 6/9 months, however keep it up and you'll get nailed to a cross and take a hit you can't recover from. So here's a tip for you, "sell to a sleeping point". If your position is so big you're losing sleep over it, simply sell as many shares as you must, to a point where u can get a good night sleep. I recommend you refine your trading game, put some risk management in place so you don't repeat this mess you're in. Take this advice from an older guy that's made every mistake in the book regarding trading and investing.
Gary_lee27, you seem to have a good grip on the reality of stocks and INVN... If I had a way to email you directly, I'd like to engage in dialogue with you, but don't know how so...
While I'm not losing sleep (yet) over my long position of 2,500 shares, I've been on the ride from 13 up to 22 down to 9 up to 15 and back down today...average is around 13 per.
I got into INVN because I stumbled upon some Motley Fool aritcles/videos touting INVN as almost breakthrough technology with an amazing future and I drank the kool aid, and naturally wonder whether this is all a matter or timing and patience, or whether I'm chasing fools gold or whatever...
I'm a novice investor so am not exactly sure how Nasiri's selling impacts, and while I understand shorting a stock, not totally clear on how "the shorts" that are constantly mentioned here, can keep a good/great company down...
I'm probably repeating my plea for optimism here, and to those who have been riding with me for around a year now, I'm not saying or asking anything new or different, and I probably should not watch the stock so closely, but like a moth to the flame...
Anyway, like I said, you seem to have a firm handle on a lot of this, and am curious to hear a few sentences on the pros and cons or upside and downside of INVN, if you have the time or interest..
I had a much steeper share amount in this stock until it hit about $13.40, then reduced my footprint in it so my portfolio wouldn't be taking so much of a hit. I still like the ideas of this company so I'm keeping a small amount of shares and see what happens at earning time at the end of April. Chndaytrader, it would be a good idea if you dis what Gary_lee27 suggests. Just hold enough shares to keep you sane. Hopefully the stock will finally take hold and when it does, jump back in.