Replies to post #342397 on Zeev's Turnips Patch-No Politics (ZEEV)

[Sherlock356]

I believe it Opie..what a collapse. Here is what caused it:

SAN FRANCISCO, Jan 6 (Reuters) - Shares of SpatiaLight Inc. (HDTV.O: Quote, Profile, Research) , a maker of equipment used in high-definition televisions, plunged more than 20 percent on Thursday, as one analyst said the company's contract with a South Korean TV maker could be worth less than originally expected.
Analyst Nicholas Aberle, an analyst with Caris & Company, said that despite a strong demonstration of SpatiaLight-powered television made by LG Electronics (066570.KS: Quote, Profile, Research) at the Consumer Electronics Show in Las Vegas, a meeting with LG executives suggested that sales of the TV could be slower than expected.

"The progression of overall revenue acceleration in 2005 may be overstated," Aberle wrote in a note to clients. "Due to the push-back in revenue ramp, we believe near-term upside to the stock could be limited." He downgraded his investment rating on the stock to "average" from "above average."

SpatiaLight stock fell $1.67, or 21 percent, to $6.11 on Nasdaq