Not sure why the meltdown, the call seemed great, a lot of positives.. No idea why people would sell at this volume, nothing in the transcript to warrant it!
Another reason for the sell-off could be that investors who owned it around $7 expected a little more dramatic change in the direction of the company - hearing how it would be aggressively restructured to attract buyers! The call seemed solid in many ways but honestly I was left with the feeling that management is on a much longer time table than most investors would like - therefore they sold and figured they would come back in a couple of quarters when the financials start showing more potential......as noted in a previous post, management has a lot to do just to get it back to the price we had prior to the "activists" at somewhere north of $7 - so far a destruction of value after 8 months. Honestly, no long term shareholder should be happy with the current situation....perhaps selling to recognize a loss and purchase back in a month?
Sentiment: Strong Buy
i don't know why that would make any sense. and don't you think ward would have burned through the cash so fast that we'd really have a capex crisis, not after 2015 but in 2014? so in my mind, there has been no value destruction. we'd be even lower if ward was still steering the ship straight into the rocks. as singh warned, the value destruction was ongoing and eminent under ward. it takes a bit of time to steer the ship off the rocks and back to open waters at full speed ahead... patience will be well rewarded. if you are caught not holding when there is a big announcement, you will indeed be kicking yourself in the behind.