I wouldnt jump off the train immediately though. The price has been trending down for the last 10 trading days.
Jan-Feb-Mar there was a head/shoulders on the chart with a target price of the low 17s. Amazingly thats where the price sits afterhours now.
My prediction is that the reaction in the illiquid afterhours was overdone and there will be a bounce especially considering that the price target of the h/s has been reached and the stock has been selling off the last ten trading days.
I think it will at least bounce to the 19s before making a decision of where to go next.
Divx quarterly profit rises
(5:20 PM ET) SAN FRANCISCO (MarketWatch) -- Divx Inc. (DIVX : divx inc com
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Last: 20.00-0.16-0.79%
DIVX20.00, -0.16, -0.8%) late Tuesday reported first-quarter net income of $3.66 million, or 10 cents a share, up from $3.28 million, or 11 cents a share, in the first quarter of 2006. The San Diego-based software company said revenue in the three months ended March 31 rose to $20.2 million from $14.1 million a year ago. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 14 cents on revenue of $19.8 million. For the second quarter of 2007, Divx expects revenue of $16.7 million to $18.7 million. Analysts are looking for revenue of $18.2 million.
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Can't win 'em all. I have been in since the IPO - looks like I'll be out tomorrow.
I still like the potential for the product and really believe IPTV is where things are going. But it just goes to show you without decent management, a product is not enough.
This needs to be taken over by a real company. If I had more patience, I'd continue to hold - but this shyt is ridiculous.