Personally, I believe the class-action lawsuit is pretty lame, and their isn't a snowball-chance-in-hell that it will amount to anything ... they rarely do.
As I see it from the trenches, MTIC's problems were that:
- Their EX sales manager bozo spent too much time trying to win the dotcom business, and now that many of them ran out of money, orders got cancelled which significantly hurt forecasts.
- MTIC's products were rapidly sinking towards the bottom of the performance curve. Everybody knew it, and repeat business wasn't happening. When MTIC first shipped their FC products a few years ago, they were at the top of performance scale, but they didn't keep pumping in the necessary R&D $$$ to maintain their leadership. The joke was that their subsystems were optimized for random I/O.
I expect great things of MTI in the next few quarters, and have been following this stock for several years now. I am in the storage business, so I hear what RAID manufacturers are up to, and what products are getting ready for announcements. I won't comment until things are officially announced, because things can change and I wouldn't want to be repeating what may turn out to be a rumor. I will, however, be glad to offer my insight once things are public knowledge and/or officially released.
This may be a bit of a vague endorsement, but I am long on MTI (now), and was lucky enough to pick up a block of shares at $4.00 last week.
David |
