A few weeks ago I wrote that OPWV - Openwave Systems Inc. was looking attractive at $11 but I felt that shares would go down to at least $9. Well due to a major earnings miss, shares are below $8 today. Hopefully readers took my advice and didn't buy at $11.
So are shares attractive now? I say no. I've seen this sort of thing before. Earnings were way off, and there is still an options semi-scandal hanging over the company. I am waiting until I see some inside buying, especially from the CFO. That would be my buy signal. The only reason the stock is still on my radar is because of the strong growth I see coming in the mobile market, and the part this company could end up playing.