Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of next-generation storage solution provider Fusion-io
So what: The company, which counts Apple
Now what: Among the selling stockholders is CEO David Flynn, who is selling about 880,000 of his 6.8 million shares, reducing his stake in the company from 8% to under 7%. As of last quarter, the company was sitting on almost $202 million in cash and equivalents, and the company has no clear need for additional capital since the uses outlined in the prospectus are rather generic and vague. I think this offering is primarily geared toward giving some early insiders a chance to cash out some of their holdings. They still hold big stakes, so they're not jumping ship, and I still like the disruptive potential that Fusion-io has.
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