Seeking Alpha

OCZ crashes on heavy volume

  • Does someone know something? OCZ (OCZ -28.9%) has plunged to new 52-week lows on volume that's already nearly 6x the SSD vendor's daily average, yet no news has hit the wires to explain the move.
  • OCZ has been dogged by liquidity/solvency fears for some time. The company ended its August quarter with just $10.6m in cash, in spite of raising $13.1M during the quarter. It has also declined to provide November quarter guidance, citing "uncertainties in being able to procure forecasted flash amounts and credit constraints."
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Comments (3)
  • Stock Market Mike
    , contributor
    Comments (2458) | Send Message
     
    Their cash burn per quarter is roughly the amount of cash that they have. They'll have to keep diluting to raise more cash to keep on burning it. Could be someone big is cutting their losses today?

     

    I've got super cheap $0.50 puts with plenty of time value left - playing the bankruptcy scenario.
    4 Nov 2013, 02:25 PM Reply Like
  • EatGreen
    , contributor
    Comments (6) | Send Message
     
    What's going on with OCZ. Website has nothing. No news. Virtually in dark. I'm guessing it is being negotiated for a take over from another SSD giant. I'm holding it for the next 3 months.
    4 Nov 2013, 09:00 PM Reply Like
  • Sellinpanic
    , contributor
    Comments (678) | Send Message
     
    RIP OCZ. I hope my Ocz ssd installed in my desktop doesn't breakdown before Ocz goes bankrupt. On the other hand, probably they don't have the money to replace it even if there is still 12 months warranty left on paper.
    6 Nov 2013, 02:05 PM Reply Like
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