Investors are rotating out of tech, anything priced on high...

Investors are rotating out of tech, anything priced on high multiples is getting punished. CAT is getting sold down on very little volume, and a lack of newsflow isn't helping. More broadly CAT has really been impacted by a couple false starts and strategy pivots over the past few years (founders stepping back, ex-seek guy coming in and then leaving, the half baked prosumer strategy).

I think the current management team has the right idea in turning to SAAS and investing for growth but its unfortunately coincided with the wrong point in the cycle. The fact remains that these guys are the number 1 player in a fragmented and growing sector. This is most likely heading below $1 but if you have conviction its a fantastic entry point. Would love to see some insider buying at these prices to restore a bit of confidence to a very skittish market.