look at all the headwinds facing this stock right now - these are just facts.
1. Apple margin squeeze... just ask CRUS what it is like to have all eggs in one basket
2. Samsung is facing headwinds in smartphone sales
3. Very Poor Management execution record - INVN has never beat expectations, either met or, missed
4. Inventory build-up and write-off also reflects poor management execution (management burning up cash...)
5. No near term wearable catalyst....
In my experience stocks hitting 52 week low's around year-end do not fare well because of tax loss selling.
relentless selling pressure - it broke through 14 support. Unless something changes quick (buyback, buyout rumors etc.) this is headed straight to next support level around 10.
well this shalcking is well deserved after string of earnings disappointment. But I don't think the story is over yet. No point trying to catch a falling knife, I would wait for it to bottom and breakout before buying this. 14.5 is resistance for now.
looking for INVN to break 14.5 to buy
amazing stats - INVN has never beaten estimates in its public history. Lets see how things work out with new CFO.
BTW, the MEMS market will grow huge. The question is whether INVN will keep pace.
this referendum is already dead - last poll had less than 40% support and no political party (or, SNB) are backing this measure. Even the sponsoring party is against the measure now.
JDSU already reaffirmed their guidance when they announced plans to split up - looks like there is no catalyst to drive this higher any time soon. FNSR remains better play...
Who the heck is selling relentlessly though and why?
well hope you keep it up hedgebets - these responses make a lot more sense than your Fibonacci commentary.
I think someone like Cisco looking to lower their tax bill could make an acquisition bid or, a reverse merger from a PE firm like Avaya owners...
I can't imagine anyone in JDSU related market like FNSR, AVGO, IIVI etc. to make a profitable play with NOLs.
wow... thats impressive hedgebets - very lucid response
The closest that I can think off is Icahn and XO Communications takeover and that is mired in lawsuits now.
you would be surprised how difficult it is to monetize NOL.
I can't think of any recent examples where NOL was valued in an acquisition. Do you know of any recent tech acquisition where this was valued as a net positive?
Get Goldman Sachs on the case - during 2008 crash, they sold a big Sehat stake ~$5 under the guise of margin call. I wonder whatever happened to the lawsuit...
They can now short 2 companies for the price of 1. Same great management in charge at 2 rolling disasters.
And Sandell Management has such faith in $19-$26 breakout value that they hold a measly 2% stake...
SNDK is supply constrained and hence guiding lower. Also, FIO integration - welcome to that mess...
MU should be fine, I will be buying more if it trades lower tomorrow based on SNDK report