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"Smart Technologies" (SMT) A "BabY" Abandoned Or A Celebration Of Delivery?

Summary

Smart Technologies "SMT", premier maker of interactive whiteboards, and software; may be "in play"Now growing, is profitable, and maybe great prospects.

"smart" was hot IPO in 2010, crashed from $18 to $1.30.

"smart" has struggled for survival last 4 years, but recently has gained some traction.

Now, Chairman and key board members, founders, (husband and wife) have resigned.

How to interpret this action? Market seems to see negative.

The husband and wife team that pioneered the interactive whiteboard phenomenon and use of digital technology in the classroom may be ready to turn their "baby" over to professional managers and fade from the battle.

Nancy Knowlton and David Martin have worked more than 20years in developing technology for educational use.

The market really liked their IPO in 2010, but really turned on them when the use of digital technology proved to be very competitive and development costs soared. Not to mention the heavy cutting of school discretionary budges, almost everywhere.

They brought in experienced management, kicked themselves upstairs to the board, and watched or oversaw their baby go through painful transformations and cutting to the bone.

Now the "baby" has survived and may be ready for a good growth spurt.

On April 21, Knowlton and Martin resigned from the board and their 22% ownership was converted to normal class A shares. The market seems to take a negative view, with the stock down 8+%.

But, could these actions really be indicative that the Martin/Knowlton team is really, finally declaring victory and getting ready to reap some well deserved rest and credit for a life time of praiseworthy work.

The stage is set for a dramatic quarterly report in May.

I am long "SMT" and may add to my position.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I am long SMT and may add to my position.