As usual Mr. Hong will evaluate his position and will liquidate his holdings or buy up options before announcing the state of company.
This is the last time I will ever trade shares of Chinese management. They never acted on behalf of shareholders for the last 11 years. Only beneficiary of this company has been Chairman Hong's family including his daughter's family.
I think HUA backed out with various excuse. The deal was dubious from the very beginning. $1 per share penalty for withdrawing deal is extremely low compared to Intel-Altr or AVGO-BRCM. Anyway it is now at $23.50 is lower than $24.6 before the deal was reported last August. You can now safely say that the DEAL is OFF. WIll Hua pay $1 penalty?
Only question is who is to blame. If OVTI is guilty it has to pay $28M to Hua. If Hua called it off without good reason, OVTI will get consolation money of $1.00 per share. If Hua can blame any government agency. then Hua will refuse pay even that $1.00 per share penalty.
Shanghai stock market is collapsing very fast losing 30% in 2 weeks. Every company in Shanghai is defensive mode and absolutely no shape to buy other company. This deal is probably dead with Hua giving excuse that they cannot get Chinese government clearance. This excuse will allow them avoiding the cancellation penalty. We will be ack in 16-19 very soon.
The most common mistake the dilettante makes.is that he sells at the very moment when it will spurt surpassing highest previous close.
ALTR, soon a part of Intel announced that it will use WCSLP packaging. It means very soon all Intel chip is heading for the same packaging. 20% of WCSLP owned by OVTi may be worth more than OVTI itself, like Yahoo's ownership of Alibaba.(Read Altera News)
He wanted to use OVTI as his perpetual piggy bank taking millions of $$$'s every quarter selling his options. Greedy Old man.
In order to attract Chinese customer, Kate Spade should change its name to Italian or French name. Chinee love US brand names for tech and pop brand but they prefer European when choosing luxury items.
Stock is rising without any correlation with the company performance. Who cares as long as rising and I am pretty sure I can get out before it falls 25% in just 5 minutes as it did 6 month ago.
For the last 15 years they have been making money and spending all that money buying back shares and still the number of shares outstanding are increasing. Hong is giving himself more shares than the company can buy back. Hong does not want to sell his personal piggy bank.
Share prices of many companies that lose money quarter after quarter are several times of OVTI. Ovti reports better than expected and better future then it drops. Anyone can dare to explain?
MBLY is playing exotic market of autonomous driving and perhaps has the leadin technology ahead of Google. But in this game the softwcare on optical sensor plays very tiny role and the overall autonomous driving is conglomerate of manynsensors. so neglect that stupid comment by Morgan Stanley analyst.
Please read the following and think about what is motivating GS.
GS today removed Glid from its recommended bio stocks. This January the same thing had happened GS said that Intel is overvalued at 24 and downgraded to sell with target price 17.
Certainly they know how to scare the people to dump their stocks but GS knows very little about the company and the stock.