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Beaten-down and heavily-shorted OCZ Technology (OCZ +14.8%) is ripping higher after announcing...

Nov. 01, 2012 12:32 PM ETOCZ Technology Group Inc (OCZ) StockOCZBy: Eric Jhonsa, SA News Editor2 Comments
Beaten-down and heavily-shorted OCZ Technology (OCZ +14.8%) is ripping higher after announcing an aggressive restructuring plan - if nothing else, new CEO Ralph Schmitt seems to have a healthy grasp of the challenges facing the company. SA's Austin Craig argues OCZ has been hit with a "perfect storm" of weak PC demand, accounting problems, NAND flash price hikes and supplier dependence issues, inventory write-downs, and a questionable strategy to sacrifice margins to gain share.

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