MXWL: Has dropped from the $9's to today's close of $5.79 in two weeks. I've been looking into the situation a bit because it's a solid company (they make very high tech electronics for everything from cars to satellites) and the extent and duration of the downtrend is surprising.
Basically, they made an accounting error, and in an internal audit this error was discovered and made public. It's complicated, but it seems they had some delayed-payment arrangements with various distributors of their electronic parts, but this wasn't communicated clearly to their finance department so it recorded the sales as cash received. About 12 million bucks worth!
But the thing is these sales actually happened, the revenue is not lost, it's just going to be moved from the first three quarters of 2012 to the fourth quarter.
Long story short this drop seems overdone, think I'll buy in on Monday.
All that is needed to make a happy life is within yourself, in your way of thinking. -Marcus Aurelius
