With regards to Ambarella, the company just blew away earnings–proving Mr. Assbahi’s ‘channel checks’ more than false, but fabrications.
In summary, I believe this gent purposely published his “hit piece” on Seeking Alpha with the intent to affect the share price, all the while holding a short position in advance of this occurrence. Or, he’s just an irresponsible hack.
Either way, I eagerly await his response to AMBA’s blow out quarter and read what he’s been up to, over the past few weeks? Did he cover his short position, after his stupid article jacked the stocks for 10%+?
The word wants to know.
Either way, I won and will be funding dinner this evening with his losses.
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Ambarella beats by $0.07, beats on revs (15.34 +0.14)
Reports Q2 (Jul) earnings of $0.26 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.19; revenues rose 34.6% year/year to $37.7 mln vs the $35.99 mln consensus.
Gross Margin: Gross margin on a non-GAAP basis for the second quarter of fiscal 2014 was 61.9%, compared with 69.2% for the same period in fiscal 2013.
Commentary: “We continue to enjoy solid success in professional and consumer IP security markets, where we are delivering cost effective, feature rich solutions for technically demanding products. In addition to our security market success, our wearable sports and automotive camera markets continue to grow, contributing to our strong year-over-year growth.”