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Tuesday, July 1, 2008

A real STEC in the mud

What a pig.

I don't even know why its going down anymore.

An interesting opinion article from the chief strategy officer of EMC's Symmetrix division. He says Zeus drives rock.

STEC also took out a credit line with Wachovia. They're buying a mcmansion. I jest!

STEC intends to use the proceeds from the credit facility to fund its working capital requirements, including the increasing inventory and accounts receivables of its growing SSD business. The Company believes the new credit facility together with its existing cash-on-hand, which was approximately $74 million at the end of the first quarter of 2008, will provide adequate liquidity to support expected accelerated growth in future quarters.

Expected accelerated growth sounds good, no?

I would think lower NAND prices would be good for them -- it will drive adoption of SSD drives.

I also think I'm a goddamn moron paying $13. Ahh, hindsight. I love it when I can be right when I'm wrong.

Still long but not so strong.

1 comment:

Anonymous said...

Have you seen the short interest from 5/30 to 6/13 - take a look it doubled during that time frame literally.

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