It's simple, etops:

1. investors are tired of all the over-promises(no direction) of the Coppeti era.
2. overhang
3. the company was shifting from milestone to milestone to try and close a deal, when in fact they more than likely didn't have the experience/management experience to close on those deal(Coppeti era)

We are in the Venkatesan era now.. while they finish working on the issues of the previous era and work on their own plan at the same time, "market trust" will be once again restored.

Also, PTI has NOT failed in any milestones. It's simply directing all of it's energy into the VCSEL because it's the quickest(least resistance) path to a healthy company that will then develop to it's full potential. PTI was putting too much energy into milestones/markets that were 2-3 years away, when they should of been focusing on the "Transceiver Market" in the first place.

I've said it before and I'll say it again, Suresh isn't here just to make VCSELs.

ps: if markets were always right, how in the world would anyone ever make any money in the stock market?