INFN started the day getting pounded, again.  It is now below the CEO and CTO's purchase price at 11.95 and 11.75 respectively.  On a fundamental basis the stock looks cheap, it is trading at a Price to sales of l.7 and a Price to Book of 2.03, true the growth is now alledgedly nil, so there is reason for the stock declining.  However, I submit that the stalled growth is temporary (a few quarters, not years) and the decline seems exagerated, then again, this stock ahs always been extremely volatile.  

The key question is: Are all the bad news now priced into the stock? The decline in price has been so terrible, that one would think that is the case.  Management's open market purchase would suggest the news will not be as dire as the market fears.  

MKM's Genovese's research note was pessimistic, he thinks this year will show a slight revenue decline and next year will show nominal to flat revnue.  Yesterday I suggested that Fallon and company can afford to wait for the shares they bought to be in the money, but frankly, I doubt they would have bought if the company would really flat line for the next 18 months.

I tend to think that Genovese's forecast of a slow down is more negative than it will be.