Rande - on CORV - unfortuantely from a technical standpoint I can't address many of the questions you raise. Its possible its hype on all-optical switches was just a bunch of smoke and mirrors - then again, its possible it may turn out to be proven - as the brains behind CORV are indeed real and have a past history at CIEN. I think only time will tell if they were pure hypesters - or the real deal.
That all said, what I do know is that the stock has sold off to pretty attractive levels.
bigcharts.com
Now remember - CORV IPO'd back in August when the Po'Boys were away and the mice were playing - so it soared to the $100+ level. At the same time, remember that big players did line up to pay $36 a share for the IPO. Now of course, many of those big players could have flipped those shares for a nice profit - but then again, if there wasn't interest, the price range wouldn't have gone from $13-$15 for 27.5M shares to $27 - $30 for 31.6M shares before finally pricing at $36
alert-ipo.com
At this point, CORV is trading at about 22% of that $36 IPO price - and is even far under the initial proposed IPO price of $13-$15
Now we know the games underwriters played with many stocks during the heady NAZ days - but CORV was near the tail end - so who knows what the real valuation should have been. i for one never bought into the hype previously, and have never owned CORV.
However, today, after watching it trade (really the only red stock on my screen), after seeing it on the top 20 most active list, and seeing big block go off around $8 - I decided to buy in (I am in at an average of $8).
Its a speculative buy for me based on price and perceived value alone. its not a bet on its technology. But at this level I think its worth a risk. (note - I won't go down with the ship on it - but I will gamble a bit that at this level the risk/reward tilts more to the reward side) |
