Anyone else thing the market's over reacting to the news about management change? Morgan Stanley downgraded it from over-weight to equal-weight and cut the price target from $30 to $21. Price of BRCM shares fell nearly 15%...make any sense?
I think their technology will be crowded out shortly - frontal attacks by both CSCO and INTC. Plus, I think Henry Nicholas is a smart guy. He knew it was over.
doesn't look good intraday.....lower lows into the close....you did not get even a short covering bounce in the last 30 minutes.......volume is huge........
this is a keen point to mention.....BRCM got its first wave of sellers at $19ish about a month ago...now there will potentially be no relief in sight...would not be surprised to see this test $10ish soon.......I realize there was allot of call buying today....but there was equally the same on the put side.........