I can't provide technical reasons for PAIRs behavior, but my take on various clues is that if any quarter could notably miss, it's this one.
As mentioned before, the price cut, the 'Reality Check' discussion in the Annual Report and the persistent big block selling all tell me that the word is being spread around. Add the product transition environment and you've got an opportunity here to buy dirt cheap! Lastly, what confirms it for me is we've gone south against some really good news.
Now, I'm long @ roughly $ 19, so this hurts. But, I do take comfort in one thing. Strauch loses over $ 1,600,000 every point it drops (ref: Annual Report stock ownership numbers). Since early April that's roughly $ 12,800,000 on paper. If I'm mad, he's gotta be really pissed. |
