My biggest Concern, if I were you..My biggest concern would be the volume
This stock is taking out old lows on above-avrage volume
Daily volume in the last 5 days has averaged 253,000 shares versus the 30-day average of 162,000
Given that it's been almost 2 1/2 years since the stock traded here, technically it's difficult to see support anywhere.
Many here have correctly pointed out that I was very bullish on Xebec.
I was, and I was wrong to be. Xebec's revenues went from $14.7 million to $124 million in 4 years.
Now the company is in major trouble.
Management dropped the ball, to be underservedly kind.
Let it be a lesson to you.
Anything can happen in the stock market, and I've been 100% wrong more than once before.
I hope I'm wrong about this one for your sake, but a market cap of $270 million for a company with very little cash, a return on equity of negative ninety-five percent, and that's trading at 9 times book value seems a bit rich to me.