SMTC - Why Semtech Stock Just Crashed 20%
2024-06-07 12:27:34 ET
" With Semtech stock valued at $2.5 billion, burning cash, carrying $1.2 billion in net debt, and still a year away from profitability, it's hard to call this stock a buy today. "
That's how I concluded my write-up of Semtech 's (NASDAQ: SMTC) earnings report yesterday -- with a caution to investors not to buy the Internet-of-Things stock despite its apparently strong earnings beat . Little did I know how bad things would get -- and how fast.
This morning, Semtech announced CEO Paul Pickle is leaving the company, effective... yesterday.
For further details see:
Why Semtech Stock Just Crashed 20%