Violin stock low bow

Violin Memory stock dipped to $0.65 yesterday, a 12-month low point, valuing the company at just $14.1m.

The firm's market capitalisation was $20.24m on 26 September, $31.3m in early May, and $76.5m in February; a spectacular fall. This is like water running out of a bathtub.

Despite announcing that an existing customer had bought its latest FSP 7300 and FSP7700 systems in an upgrade order late last week, Violin's shares still lost value.

The company has cash in hand for the next 12 months and is looking for more. We're watching the most drawn-out recovery in storage array history – or an exceedingly slowed-down train wreck. ®