Brocade Update

Since I wrote about Brocade shares on 7th November, the share price has dropped from $9.28 to $7.74, or 16.6%. That changes the P/E ratio from 17.19 to 14.33. Does that make them more investable? Perhaps. In August the shares dropped as low as $6. In the last 52 weeks, the lowest price has been $4.79. I think if the price gets to $5 then I’ll invest. That seems to me like a reasonable price. I’m not sure what is driving the negative sentiment against Brocade (other than perhaps the general market downturn).

Bear in mind, those of us in the UK that the $/£ is still at 2.05, making US investments even more attractive.

On another investment note, 3Par are back to their IPO price of $14 after their 2nd day of trading….

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