Saturday, August 6, 2011

Autodesk (ADSK) shares off 33% since May 12th, 2011

Talk about stock prices getting clobbered ….

Autodesk shares were trading at right around $46.00 on May 12, 2011.

On Friday (August 5th), Autodesk shares closed at $30.92.

That’s a fall-off of just about 33%, in spite of the fact that Autodesk’s sales this year improved over 2010 sales and in spite of the fact that Autodesk is a very profitable company, has significant cash in the bank, and does not have any long-term debt.

Shortly after RW Baird issued an upgrade (to “outperform”) on ARC stock, ARC’s stock price moved up to as high as $10.50 per share (I think that was an intra-day price on April 1st, 2011.) With ARC stock falling to $4.58 per share (closing price on August 5th, 2011), ARC’s shares have fallen off around 57% since they hit that $10.50 price.

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