Andrew Wallmeyer summarizes Sonic Foundry’s current state of affairs and provides a useful bit of history in terms of their stock mania and subsequent losses. The tech business can be brutal. We’ll see how SF navigates these waters.
“When you look at the number of tech companies that didn’t make it when the bubble burst, it’s truly amazing that this company was able to get it under control and survive that period,” he said. “The carnage was so absolute.”
If some of this smacks of boosterism, that’s because it is. Aside from their personal financial interest, many of the stockholders at the meeting said they root for Sonic Foundry because they want to see a local company succeed.
“I’ve been up and I’ve been down with the company,” said Hughes, who once watched his Sonic Foundry holdings fall from $100,000 to $1,000. “But it’s nice to be in a Madison company, being from Madison.”