At least the guy owns shares. As a matter of fact I bought a while back and I don't post much but I happen to read the thread everyday and I like people that post new columns and stuff. It saves me a lot of time searching. This guy hope and before_its_news do a great service for shareholders and I commend them and anyone else that posts real articles here. As for you chardda233....if your not a shareholder what exactly is your purpose for spending so much time on this thread. Thanks in advance.
"A little bit of bad news"........are you kidding? Hundreds of millions lost already and already flowing into 2016. Class Action Suit filed Friday night and more poop coming down the pipe Monday for sure. Wake up, this is not a little bad news by any stretch of the imagination. I know it's hard to sell and people figure that they will just average down or buy on the low but this is not good strategy with a falling knife.
On September 11, 2015, the Company reported a quarterly loss of $382.4 million for its fiscal second quarter, whereas analysts on average had predicted a quarterly profit of $11.9 million. The Company also announced an internal probe by its Audit Committee into Marvell’s accounting practices including its revenue recognition, litigation reserves, and internal controls. On this news shares of Marvell fell $1.71 per share, or nearly 17%, to close on September 11, 2015 at $8.84 per share, on unusually high volume.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that : (1) Marvell had engaged in inappropriate revenue recognition practices; (2) the Company’s management permitted an inappropriate and ineffective control environment; (3) as a result, Marvell’s key accounting metrics were misstated; (4) that the Company lacked adequate controls at all relevant times; (5) and as a result of the foregoing, Defendants’ statements about Marvell’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
I hate when people post other's screen-names and take immature shots at them because they have a negative view of the market at the present time. I read this board daily along with quite a few others just to get the opinion of some of the posters who seem to be more seasoned than others and when I see the opinion of these people pointing in the same direction I take it seriously and start to adjust my risks accordingly. I don't think hope has a crystal ball and I am not so sure about everything he says but after reading this thread everyday for months now I have to say he has been right more than wrong. He was Bullish from the last 9 to 14 run and said if ZIOP can pass the 52 week high it would head to high teens or even 20.00. Well it didn't and he sold half his shares according to him and bought them back cheaper so good for him. And he said he sold them them yesterday on the high for a big profit and today it looks like the market might possibly go down again so he was right again. If someone doesn't do the rally dance on the YMB or if they are short the market they are "not helping" . Yesterday he said he bought a short ETF and today it is already up 5%, he was right again and guess what? I bought it TOO! Thanks HOPE! Keep posting hope and I will keep reading. People like you charda that just keep trying to guess the bottom are getting left behind while people like hope are profiting so I don't think he really cares about your childish behavior.