Novatel stock sank a whopping 26% from yesterday's close. Ouch. This was very strange. The 3Q results were damn good. Profit was $6.2M versus a loss of $1M last year. Revenue also rocketed up 20% this quarter versus last year. The company even beat the analysts estimates. But it still got punished.What does the world want from this company? Like many other companies reporting 3Q results, Novatel is projected a bad 4Q. This is nothing new. Maybe stockholders are dumping based on this short term outlook. I am curious though. Wireless seems to be the future of networking. The company did well this quarter. I imagine they can repeat this, if not next quarter, in the upcoming year. I will be keeping an eye on this stock for a possible entry point.
