Hey Guys. Read an article in Barrons on EGHT (8x8) Ran up pretty nicely and the CEO sold all his shares at $5 and change, the stock is near $8 right now. Is it a short?
i would be careful shorting that thing. it traded its float wendsday and again friday. voip is the latest hype momentum thing.
There are several competitors around with much bigger market cap, I just think if the CEO has cashed out, then he does not believe in the future of his company right? Why excercise 100% of the options? Sure take some profit and leave half the money on the table, but all of it???? Must be something wrong. Of course it could double from here before collapsing..... Maybe the key is to get in small....
08:42 ET 8x8 profiled negatively in NY Post (EGHT) 7.52: NY Post article takes a shot at highflier 8x8, which is up 4300% this year. Article says "voice over broadband" isn't a business any more than "faxing" is a business. It's just an activity that can take place over an existing communications network. In fact, if any money at all can be made, the cable cos that already operate the networks are in the best position to try; they at least already know who their customers actually are, and how to reach them most effectively and inexpensively. If residential subscribers begin migrating to cable-based telephone services, the phone cos will simply keep cutting prices. In a race to the bottom, 8x8 cannot win.