Nice earnings but not near enough to maintain the stock price where it is now.Even if they double their earnings, that gives a P/E=50 and a P/S=3 both are which are double what it should be. In other words, AVID is a $20 stock at best.I'm still short 3000 shares as stated in my earlier posting today. I'm happy with the position without a worry in the world. If it gets back to 42-43, I'll short another 1000.Good luck as always to everyone.
Make that 135 million in cash! And don't forget the big jump in GM to 55%. This was the most profitable q for Avid in 5 years.