Seeking Alpha

OCZ resumes trading, shares crater

  • OCZ (OCZ -77.6%) has lost over 3/4 of its value following news it's filing for bankruptcy, and is close to a deal to sell its assets to Toshiba through a bankruptcy proceeding.
From other sites
Comments (8)
  • Philip Marlowe
    , contributor
    Comments (1165) | Send Message
     
    Finally, after a year of lies and false hope peddling the inevitable happens. My main regret is that I could not find any shares to short all this time. And boy I kept trying.
    27 Nov 2013, 02:42 PM Reply Like
  • Stock Market Mike
    , contributor
    Comments (2442) | Send Message
     
    Puts. I bought quite a few of them on the cheap a month or two ago - now worth a bundle.
    27 Nov 2013, 02:53 PM Reply Like
  • Ashraf Eassa
    , contributor
    Comments (9232) | Send Message
     
    http://seekingalpha.co...
    27 Nov 2013, 02:43 PM Reply Like
  • Philip Marlowe
    , contributor
    Comments (1165) | Send Message
     
    I give you props for correctly stating that OCZ was doomed once they revealed their accounting issues. But in the interest of full disclosure you were recommending OCZ to aggressive investors before the accounting issues surfaced.

     

    Of course one usually cannot be expected to know that a company is submitting false statements ahead of time. Nevertheless, you cannot claim 100% prescience on this stock.
    27 Nov 2013, 02:55 PM Reply Like
  • Ashraf Eassa
    , contributor
    Comments (9232) | Send Message
     
    I was bearish immediately after the company claimed a NAND shortage, so this was before the accounting issues.

     

    But yes, I didn't call it correctly from the absolute beginning.
    27 Nov 2013, 02:59 PM Reply Like
  • 2ng
    , contributor
    Comments (108) | Send Message
     
    I made a few nice rides on this roallercoaster these last months
    27 Nov 2013, 02:45 PM Reply Like
  • ad hoc grip
    , contributor
    Comments (3) | Send Message
     
    And I (re)learned the obvious lesson - just because you like the product is not enough justification to buy the company. OCZ: RIP
    27 Nov 2013, 04:32 PM Reply Like
  • AnecdotalEmpiricist
    , contributor
    Comments (79) | Send Message
     
    The writing was on the wall for OCZ for over a year. Anyone still holding at this point was a pure speculator.
    27 Nov 2013, 05:29 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs