Holy 52-week Lows: VMware
VMware Inc. (NYSE:VMW) continues its decline today, shares hit a new 12 month low of $75.79. VMW is trying to stay above $76 a share as we go into the afternoon.
It's ugly for VMware 1shareholders but despite the negativity Mastery expects bottom feeders to begin nipping at the beat up stock. Last month VMW fell off the cliff from near $100 to today's current mid $70 range.
VMware's story is far from over but there are mixed reviews on the company. Barron's thinks shares could fall another 20% from its current price. Google around and you will find articles that say VMware is worth a few bucks at its knocked down share price. There's no doubt the company blew it on their last conference call but its too early to call this company a loser for the remainder of 2013. Mastery has been talking the stock up lately and we like the idea of buying on weakness.
Bottom line: VMW continues to be a falling knife but it's a quality name company that should be added to your watch list.
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