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Wednesday, April 11, 2012

Avid Stock Down 17%

Not happy news today for Avid right before NAB. Stock is down 17% to $8.50 after a poor quarter. Read more here. As others have said, their editing products are actually a small part of the company's revenues. Much comes from shared storage hardware and software as well as their other product lines like M Audio and ProTools. While they have made great efforts to turn their business around over the last 2 to 3 years, the marketplace doesn't seem impressed. Perhaps crapping on your customers for years is a hard thing to wipe off.... While the New Avid isn't the old one, time will tell how things works out.