Jim Cramer again blasts Mellanox
"I sell a stock when the CFO unexpectedly announces his decision to leave for personal reasons."
Cramer was referring to the resignation of Mellanox CFO Michael Gray in September. "Although the resignation isn't necessarily a sign of trouble, why take chances? If you're putting money to work put it elsewhere. As a matter of discipline, I sell a stock when the CFO unexpectedly announces his decision to leave for personal reasons," Cramer said.
In less than four months, Mellanox's share price has halved, from a peak of $120 in early September, to a current price of just over $60.
On the Tel Aviv Stock Exchange this morning, Mellanox is down 0.65%, at NIS 230.40.
Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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