10/28/2011 Avid's stock sinks to new low....

[mlange]

As of this writing, the share price is $6.75 - down from $7.90 yesterday.

As far as I can tell, this is the lowest price ever within public trading.

[25ghosts]

Originally Posted by mlange

As of this writing, the share price is $6.75 - down from $7.90 yesterday.

As far as I can tell, this is the lowest price ever within public trading.

And this after a MAJOR release...


Normally (If the release is good) stock should rise !


If AVID want that stock to rise quickly, in public announcement, say

OK We messed up Price-Wise.... Here are the new Prices !!!!

[nst7]

You are correct:

http://finance.yahoo.com/echarts?s=A...urce=undefined


Keep in mind this is in reaction to more and more bad quarters over the years, as the events of the last week would be too soon to have a major impact for investors.

[cboyer1951]

What happened from 1995-1997 and from 2000-2003? The two major dips in the past?

I'll look for a Pro Tools history timeline I guess.
Nevermind, that Avid stock, 'not' Pro Tools, duh!!!

Chuck

[jimst57]

Isn't it amazing that people can make decisions that will sink a ship like this and still make the salary that they do.

Where do I find a job like that?

[danander11]

Originally Posted by jimst57

Isn't it amazing that people can make decisions that will sink a ship like this and still make the salary that they do.

Where do I find a job like that?

Down here, Qantas is doing the same thing.. Joyce just got himself a $5 mil a year pay packet and the company is tanking. The board got something like $1.3 mil.

The biggest paydays are going to the worst leaders..

[nst7]

Actually, it's not uncommon for CEO's to get canned, if things continue like this. Gary Greenfield has been CEO for 3 1/2 years. I don't know how much longer the shareholders would give him to turn things around.

[TOM@METRO]

The sad question is; if the value of this company drops much more, and further layoffs ensue, who will be coding the 64bit Pro Tools we all need. Let's hope that management has a plan for a big turnaround, for all of our sakes.

[danander11]

It dropped even further than I thought it might. It's slowly coming back up from $6.55 but who knows where the day will end. It lost $.85 overnight from close to open...

The sad part is, the rank an file will bear the brunt of all of this.. the 'big boys' will still bank their millions and bonuses..

I guess if I had to reveal my heart of hearts, it would be that Avid drive itself into the dirt and someone else come along that really does care about PT, buy it, and rebuild the PT Company... (going back to calling it Digidesign might not hurt either).

Still.. it only bodes ill for the rank and file.

[John_Toolbox]

Originally Posted by cboyer1951

What happened from 1995-1997 and from 2000-2003? The two major dips in the past?

I'll look for a Pro Tools history timeline I guess.
Nevermind, that Avid stock, 'not' Pro Tools, duh!!!

Chuck

During both of those time periods for digidesign, an introduction of new TDM hardware happened, I believe that mix|24 systems came out around 1997, and HD was introduced around 2002, not to mention the transition from OS9 to OSX, a lot of OS9 plugins never made the transition, so people had to buy something else to replace them.

My guess is that when a new pro level system is released, it takes a few years for the bulk of the pro customer base to adopt it. Once the new product has been announced, people stop investing in anything related to it's predecessor, because they know their old system is doomed for obsolescence. So there is a period of income dropping from the old systems not selling any more, and the new systems not selling yet at the same time because most people in this business simply can't afford to upgrade every time something new comes out.

This announcement has basically given the HD users the message that all of their hardware and TDM plugins are soon to be obsolete. This means that it's not likely anyone is going to sink money into these systems from here on out, so any revenue from selling HD cards, TDM plugins, etc. is going to drop, if not be completely eliminated. It's going to take a while for anyone to jump on a full blown HDX system, so there's not going to be a steady revenue stream from that yet either.. I personally think that that majority of the HD user base is going to wait until a 64 bit version of PTHDX is introduced before they even think about starting the transition. Even then, this time around the plugin format has changed completely, and there is not going to be legacy interface support, so it might take even longer for people to make the transition because you'll basically need to replace everything.