Wireless chip meltdown at Sequans

Sequans has been a sad IPO story pretty much from the start. The French 4G semiconductor firm selected an odd array of investment banks for their IPO (UBS, Jefferies, Baird, Needham, Natixis) and priced below the $11-13 range at $10 on April 15, 2011.

For a short while the shares did very well and traded in the $12-$16 range for a couple of months. Then the fundamentals started to deteriorate in late July when the company lowered guidance. After gapping down to $8 the stock has bumped lower since and went out yesterday at $3.55.

And then . . .

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