RE:RE:RE:Xebec Announces Organizational ChangesIdontpostmuch15 wrote: ... If anyone still thinks this is a Xebec specific problem - because of a change in their COO... I believe you are terribly mistaken.
Side point - it's been repoted that Prabu actually stepped down from his position which has me believe that the organizational changes were outside of Kurt's control and does not reflect the company.
Long and Strong - Xebec WILL be a $20 stock one day... it's just a matter of when
At such a senior level, anyone "stepping down" from their role would typically give the company (and the public shareholders) a few months notice, not an abrupt 24 hours notice. The less news I have about a replacement COO, then the more cautious I get about the rationale for his abrupt departure.
I'm not comfortable with the trading recently in XBC, along with the fact that it has dropped solidly below the 50 day moving average. Accordingly, I've cut my weight to a half position until I can get better clarity on what's going on. The raft of selling tells me that the scuttlebutt might not be good. Once the latest quarterly results are released next month, it will hopefully provide better clarity, and I can assess at that time what to do with my remaining half position.
In the meantime, selling half of my position keeps me in the game, assuming that this is just a healthy pullback, but also protects part of my profits should this pullback be the result of longer-term structural or fundamental issues. This is just how I'm handling this pullback, but each of us has to handle our own due diligence. As always, GLTA