Stock free falling now, markets aren't happy with the CEO or divesture
Heading to ten bucks a share
Earnings Thursday could be the end
16 replies (most recent on top)
@es Totally dependent on SAP.
ECM would be sunk if it wasn’t for SAP selling stuff.
@be yes the Core part of OT in the ECM space. There have been some acquisitions but the majority is OT. That product line is performing very strongly and is 50% of our revenue
If it keeps dropping could have a hostile take over by someone.
In all seriousness, this might accelerate the sell off of Non-core and for a lower price.
This is more likely a leak of poor performance again this quarter.
I'd not be surprised if there is an email acknowledgement of the near 30% drop in the last 30days and what they plan on doing. Maybe another share buy back.
Can anyone name a good product actually created by OpenText (not obtained via acquisition)????
@bb Also, calling the products SAST and DAST was peak stupidity as this is the generic application class.
Previously, the applications had recognized brand names like WebInspect, SCA and the brilliant marketing experts at OTEX completely discarded that.
OTEX is clueless management making clueless decisions.
@b9 Sadly so. A few wins, but loads of churn, so the trajectory is down.
Although it wouldn’t have changed much, dropping the globally known Fortify brand name was just a top draw genius level of thinking seldom seen….
@b4 Not all products are horrible.
Application Security (formerly Fortify) was industry leader (Gartner "magic quadrant" leader, etc.) for quite a long time under HPE and MF.
I suspect OTEX has ended that.
@b7 I don't think you understand the actual sentiment here, pal.
It will rebound.
It may take 6 months, but it will rebound.
ride it out people.
@b4 We'll take Five Below by storm someday
o7
No one wants to buy our products (private equity, big tech, small tech, customers, etc).
Our Business Networks contracts limit us on the data we can use for AI.
All of our stuff would be sold at TJMaxx if we were clothes.
This is so entertaining
Send it lower
@ac ya need buyers to sell. And it’s not great timing. Look around the market today. Tech is getting hammered across the board. Valuations are way down.
There appears to very limited understanding from board/smt to understand the effects of what looks like a sell off. Selling small chunks, looks so weak to the markets. Sell vertica, stock price drops by circa double the value of what you receive next day to the company. Some really poor decisions in play, the one thing I can say they have got right, is they are going to shrink it, just not in the manner they meant. Embarrassing on many counts.
To be fair there’s a major sell off everywhere this week. SAP is down 5% right now and OT is down about the same. What tends to su-k is the others recover and OT tends to take longer to recover.
Not a good day for tech
OMG! It was only a matter of time before everyone woke up to the fact that OT is a clown show.