Strange as it seems, when the overall market surges, we tend to go the other way and I am not sure why except that perhaps without any news coming from Avid, there are some that are simply selling and moving on to other stocks that seem to offer more momentum....like TESLA! lol
It seems that the Avid powers that be, seem content to wait until their upcoming CC's to update us on new contract progress which sometimes gets a little frustrating. From the investing point of view, if nothing is heard, one assumes that nothing is happening and so hence the stock begins to drift downward. We seem to have a pretty solid base around the $6.50 range but if we continue to breach this level we may start testing the $6 range.
Again with the current volume, I do not see this as significant as this stock is primed to run on news, and without the same, it is tough to maintain any momentum.
Will we get progress reports on the two-Big 10 contracts they were negotiating? How about Halozyme...are we continuing to add contracts here as well? How about the expansion...is it a "slow go, pay as you grow, or are we on the verge of a major expansion? I assume not since we still had some current unused capacity?
I would really expect some solid growth here when we get the numbers at the upcoming CC in March...the transition team should have found their grounding by now, and should be well on the way to executing their business plan. I still believe the plan is to land some big contracts, pump up the revenue and margins and then offer the little darling to the highest bidder...this board of directors is not here for a long term play.
MY WAG--1 to 2 years max..run up the share price to $13/$14 and sell her for $25...that would make the wait worthwhile.
If that is not good enough, I guess you could always sell and jump on the Tesla bandwagon?!
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