http://www.marketwatch.com/investing/stock/gtat I still own a little bit, but thankfully I've sold most of it over the past few months - particularly after it was recently revealed that they wouldn't be supplying the screens for Apple's latest phone. I'd made lots of money on it in the last few years, and had gotten in and out of it a couple of times during that time.
I didn't see this coming, although I did expect a drop in value since the iPhone 6 wasn't released with Sapphire displays. I think people would love the displays, but they're not willing to pay a hefty premium for them right now. They do make sense on smaller devices, and Sapphie is going to be implemented in the Apple Watch. Definitely a smart move to have dropped most of the stock in the past rather than after this crash.
I would still pick this up even if it's only a $1 or $2. Even today it's up over 100%. Plenty of companies went to $1 (and lower) back in 2008/2009, and are trading above $20. It's hard to find that kind of return on the NYSE/NASDAQ. Many companies have come out strong from bankruptcy. Unless they are going to be de-list there's a good chance that this stock will go back into double digits. When the Apple Watch does finally come around this company will get more recognition. There's not many sapphire display manufacturers out there.
Interesting to bad to here this. Though I was curious once apple had dropped the sapphire displays - what would happen to other companies using sapphire displays and what would happen to them since apple is such a big company.
I'm still confused as to how nobody saw this bankruptcy announcement coming, not even some of the higher-ups in the company. Anyone have any clue how this sort of news goes so unnoticed and just shocks everyone? I have some friends who had money in GTAT and all they told me was they had absolutely no idea, nor were there any signs of them declaring bankruptcy. Seems many analysts have said the same thing.
I'd stay away for now. I had no idea until it was announced. If there was any funny business going on, securities lawyers will be all over them. Of course that doesn't necessarily mean shareholders will get much or anything either way.
