Almost two years ago to the day, shares of IMPV topped out and imploded to the downside on a truly fucked up earnings report. This singular event marked the beginning of the end of my career in money management, as I was set to endure a harrowing drawdown in the Four Horsemen of the Apocalypse, heavily long WDAY, SPLK, YELP and FEYE. I didn’t leave money management because of the monetary drawdown, as I was very much ahead at the end of last year. Instead, it led to my emotional detachment from a business that I loved since entering it in 1997.
In the after-hours, IMPV is down over 11%–warning that revenues will miss by about 20% to $57.5m from $65m. Moreover, losses are set to explode to 20-22 cents from 2 cents.
“We are disappointed with our second quarter financial results, which were primarily impacted by extended sales cycles across most geographies and verticals predominantly relating to larger deals,” Chief Executive Anthony Bettencourt said in Monday’s announcement.
I expect competing software companies to drop in sympathy, just like 2014.
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Today’s IMPV takeover rumor was a nice play – planted by a trapped long who knew he was f’d?
Buy the dip in the other companies. IMPV is badly run. All the indicators are pointing to a tech cycle that is starting to pick up. Enterprise spending is on the rise. The good tech stocks will beat the crap out of expectations this time.
Fly do you articulate the emotional detachment in any posts