Avid delisted on NASDAQ
I do hope they are bought out by a corporation better suited to managing an audio company.
This could be good for all of us in the long run. Quote:
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Re: Avid delisted on NASDAQ
Really !!!!!
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Avid delisted on NASDAQ
The stock tanked $1.99 (28.76%) today.
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Re: Avid delisted on NASDAQ
What. Do they do with all the Stock that's out there after it's removed from Nasdaq ?
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Re: Avid delisted on NASDAQ
You're reading way too much in to this.
This is all a formality, and the expected outcome of Avid not filing it's previous financial statements on time (which Avid had stated well ahead of time it would be electing to do). There was clearly some poor accounting under the previous management, and as this was identified in the run up to those statements being filed, there was a change of management, and they began the process of going through their own accounts with a fine toothed comb. They announced that getting their house in order would mean that they missed the SEC filing deadline. Getting de-listed was inevitably going to be the outcome, but that is far less of a problem for a company than knowingly filing inaccurate statements - you go to jail for fraud, you get a golden handshake if there is a change of management (which would you go for). Avid will file full, accurate statements, and then they will get re-listed. And then it will be business as usual... |
Re: Avid delisted on NASDAQ
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Sure, it would be better if Avid had not been delisted, but keep in mind that they're sitting on a pretty nice pile of cash, so it's hardly the end of the world. Personally, I wish I had a few spare bucks so I could grab some Avid stock at bargain basement prices... |
Re: Avid delisted on NASDAQ
This is the time to buy, which I did along with the shares I already own😁👍
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Re: Avid delisted on NASDAQ
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Re: Avid delisted on NASDAQ
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The new auditors are costing Avid 20/30 percent of their assets..:confused: Incredible... Please dont say everything is going to turn out rosy, because its been downhill for the past 2 years. Delisting is a sign of Chapter 11 bankruptcy You need blind faith to believe in a company like Avid Just being realistic here......not gambling on stock. |
Re: Avid delisted on NASDAQ
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A while back, Avid became aware that there were problems with their books going back several years. Each year's "book" is built on previous years' "books", and since Avid had become aware that the previous books contained inaccurate data, they could not submit a report based on that data and claim under oath that the report contained correct data. Doing so could result in civil and/or criminal penalties against Avid and/or its executives. Once again...it's really not a big deal... |
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