Danny, bought Dddc @ 20 7/8 because if you read this press release carefully... why are investors concerned about a CEO's resignation when he's only going to the parent company?
I sold my last bunch of Dddc in the high 50's. I hope it goes back there again.
>New York, March 24 (Bloomberg) -- Deltathree.com Inc.'s shares fell as much as 29 percent after the provider of Internet telephone service said Chief Executive and President Amos Sela is resigning to join RSL Communications Ltd.
Deltathree.com's shares fell 7, or 24 percent, to 22 1/2 in midday trading after touching 21. Before today, they had almost doubled since their first public sale in November at 15.
RSL, controlled by cosmetics heir Ronald Lauder, owns a 68 percent stake in New York-based Deltathree.com. Sela, 56, will become vice president of special projects at RSL. Noam Bardin, 28, a co-founder of Deltathree.com, will become president and interim CEO on April 1.
Deltathree.com, which had 1.7 million subscribers at the end of the fourth quarter, generates its revenue from advertising. The company offers, for free in the U.S. and Canada, features such as fax, voice mail and e-mail that can be checked by phone or computer. |
