The whisper number was $1.32; the company was in print at $1.20, i.e., that's what they'd guided the Street to for the year. But they missed, and ended up printing $1.05, changing next year's guidance from $2.00 to $1.45. Big miss.
But the company was still making money...nicely, decently profitable. And the stock traded down from $62 to $18 fast. Big, painful miss.
The Street kept selling the shares at $35, then $30, then $25, then $20, almost like they were just punishing the share price to take revenge on the feeling that they'd been taken by management.
So the shares now were way down, an overreaction to bad but not awful numbers. Good time for greed to wrestle fear in the Octagon.
