Klay-Klown Stock Sale Means NO Deal on the Table...
Now that we know Klay-Klown recently sold 1.8+ million shares of BRCD, we are certain that there are NO deal talks going on right now. If there was anything in the works or potentially in the works, he wouldn't be selling a single share.
The only hope for Brocade now is that the BOD will hire a capable CEO who will inspire enthusiasm with institutional investors. What's the chances of that happening? Somewhere between slim and none!!
After Elliott and another hedge fund sold most of their shares and now Klayko then there should be any deal on the table for time being.
However, if BRCD performs the same as 2012 then it should gain anther $500 M.
BRCD net cash went from -$382 to +$108 in 2012. Although management raped the company but still company could add over $1 per share to its cash position.
Thus, $6.50 will be an average price for BRCD in 2013.