This BUS Got A Broke Down Engine, Mama Ain't got no drivin' wheel.
I understand the need to change things up at the top when things are going sideways, or down, as in this case. Hockey teams fire the coach all the time. Sometimes it works, sometimes it doesn't.
But to promote a VP of sales to CEO? His job as VP WAS sales, wasn't it? I'm not sure how being CEO will help the situation if he wasn't getting the job done as VP.
If customers aren't buying this 'superior' product at current prices, it will be necessary to reduce the price to increase sales, reducing margins and negatively affecting the bottom line.
If Q4/year end was anything to jump up and down about, you'd think the company would make a statement, if only to stop or, at least, slow the hemorrhaging in the SP. That there has not been any disclosure is another suggestion, in addition to the revolving managerial door, of possible shortfalls or failure to meet objectives
This corporate malaise is manifesting in continuing lower highs and lower lows. It appears the support at $1.80 has been breached. Next major support, for those who don't think looking at charts is hogwash, is $1.50. At that level and with current earnings, it may be worth looking at on the buy side. Maybe not, if margins are cut. In any event, until that level, it is a sell IMO. Time to go to cash on this one. There will be ample opportunity to leap back on board, should they prove the repairs have been successful.
My mind's made up by the way that I feel. AIMO.