I really can't see them exiting entirely. I'm told they still like the story and they're not perturbed by the FY17 report. The margin debate was ridiculous and the market's response was bizarre (likely that the selldown was coincidental to the report - not the report itself). They get that a tech startup requires time to turn over sales. They're not into these WMI stocks for quick trades - they're investing in high growth potential, under-valued stocks like NUH.
If they are still selling, I wouldn't think they've got much left to do and are probably buying at sub-6 anyway.
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