Slingshot

Differing Opinions on EMCORE Corporation

Your take - you said - "the stock price is very attractive after 60% haircut; second, the company is real. It bought Intel’s (INTC) fiber business last year and its solar technology is currently used in sattelite applications. No one denies it."
You have to separate the 2 businesses - old and new. Then value each side separately. you will realize that the old business is very to aerospace multiples or optical equip - like optium. 1x sales; 10x EBITDA. The high value they received was attributed to EMKR CPV dream. And it has recently been exposed that it is in fact a dream and nowhere near reality. Therefore, the stock was cut, and went back down to values consistent with its comparable peers in its "real" businesses, as you called them.