RE:RE:what a tripI just sold majority of my position at $29 today. Judging from all the founders, management and majority of board members selling $39m of their holdings right before they went into blackout at the end of the year and the CFO selling almost all of his holdings at around $22, it tells me that the Q4 results are not going to be that great. I was also reading the anlayst reports, and they're also not expecting any growth (actually they're expecting the Q4 to be weaker than last year and the year to just end little over $100m of revenue, which is shrink from last year). The revenue is on a gross basis and they have on average 50% margin. So on a net revenue basis of $50m, the current market cap is $1.5B. 30x net revenue? That doesn't make a lot of sense. I think with the management selling at $6 and then between $17 and $22, I would say they agree too.
Looks like there is a lot of emotional buying happening right now, so I would be cautious about buying at these prices.