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longtrader99 • 8 minutes ago
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After Hours Fake Out - Will be down $2-$3 dollars tommorow
Huge Miss. (-.63) per share vs.(-.22) expected by the street. Burned through $300 Million in cash, i.e. received the $110 Million 3rd pre-payment and still ended with $333 million in Cash vs. $509 million at the end of the first quarter. Won't be getting the 4th pre-payment until Oct. at minimum. All the boards talking heads were wrong, as volume manufacturing has not yet begun. They are only starting the "transition" to volume. Which was explained to the flakes on this board numerous times, i.e you have to install, qualify, adjust the manufacturing equipment, run trial runs, adjust again, etc, etc, not to mention all the peripherals, (services, gas supply, cooling, ventilation, etc, etc, etc) before manufacturing can even start. It was explained to them that the $600-$800 Million revenue target for Sapphire this year was a combination of Equipment Sales (ASF Furnaces) and material sales, and so their targets for materials were ridiculous. Well management just lowered guidance for Sapphire to $600-$700 Million this year and said they expect the "mix to be more favorable" in the 2nd half of the year, in other words Equipment sales vs. the lower margin material sales. GTAT's material business is just getting started this year, despite the moronic predictions and projections by Mungee, Cali Sun, and the other marks on this board who were telling people to load up when the stock was at 18-19 despite the fact that they personally bought in at around $4-$5. Talk about blind greed and stock pumping...they are the worst kind of filth...and they act like they are helping you. Please. Mungee might think that he is helping GTAT stockholders by pumping the stock with fanciful stories of solar iPhones and huge production volume already coming out of Arizona, but the truth is that his ridiculous disinformation does only one thing and that is make the stock price churn in the short term (until truth comes out) and pass from strong positions into weak hands and back again.