OCZ stands idle as its stock tanks for the second day in a row

OCZ's stock falls to below $0.40 per share, is the end in sight for the storied SSD manufacturer?

@CharlesJGantt
Published Tue, Nov 5 2013 6:12 PM CST   |   Updated Tue, Nov 3 2020 12:20 PM CST

Yesterday it appeared that OCZ's stock was in a downward fall that was unstoppable before leveling off near the closing bell at $0.73. Today the stock fell yet another 38-percent to just $0.39 per share at its lowest, and like yesterday it rebounded slightly and closed at $0.44 per share.

OCZ stands idle as its stock tanks for the second day in a row | TweakTown.com

As of this posting, OCZ has yet to release an official statement, and this has further led to investor confidence falling. A quick Google search will turn up dozens of industry analyst questioning just how long the company has left before it is forced to fill bankruptcy, and even more complaints on forums across the internet where customers are complaining about failed Vertex SSD drives.

While I am still mystified about the company's lack of response to this crisis, I have developed a new theory on what may be going on. A few weeks back we reported that Toshiba might be looking to buy OCZ outright, but nothing ever materialized from this. I have a very small suspicion that OCZ may be keeping quiet in order to force their price even lower to draw in someone looking to pick them up at what might be a steal. This would wash the company's leaders hands of things and they would get off with a nice payday.

NEWS SOURCE:google.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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