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.
So what: The news comes just weeks after AVG jumped 14% on better-than-expected earnings and guidance. J.R. Smith said he is stepping down but will stay on as CEO until a successor is found. COO John Giamatteo will handle daily operations until then.
Now what: Smith said he felt it was the right time to hand over the reins to new leadership. He had led AVG for the past six years. The outgoing executive will become a member of AVG's Supervisory Board, and AVG has tapped SPMB to search for a new CEO. Investors are caught off guard from the move, and that surprise is manifesting itself with today's sell-off.
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With the U.S. relying on the rest of the world for such a large percentage of our goods, many investors are ready for the end of the "made in China" era. Well, it may be here. Read all about the biggest industry disrupters since the personal computer in our free report: "3 Stocks to Own for the New Industrial Revolution." Just click here to learn more.