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

|About: OCZ Technology Group Inc (OCZ)|By:, SA News Editor

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.