IDTI earnings / after-hours trading

IDTI beat on Revenue and met on EPS, but guidance was below expectations.

I was listening to the conference call and they said that next quarter sales would be down because of a big customer, and I hit “sell” immediately (this was actually my first ever after-hours trade). The word “Infinera” started ringing in my ears. But it’s more than that really. Like many companies these days, IDTI’s spending has just been going crazy. It has increased far faster than gross profit, which has led to decreasing margins. I’m out.

So far I’ll call this 1/1 on after hours trading, unless something crazy happens tomorrow. I got out at just over $21.00 and it’s currently trading at $19.50 or so.

Not that it factors into my decision, but I actually made a buck or so per share…my purchase price had been just under $20.00.

Bear

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