Adobe stocks slammed, management criticized after killing mobile Flash development

"Adobe said that smartphones were going to be a niche," Icaza said.
As a result it would be three years before Adobe launched a touchscreen-optimized version of Flash for mobile devices, and by then Apple had already decided to bar the format from their mobile devices. This was extended to the iPad in 2010, and so Flash content could not be accessed on two of the most important product categories for web consumption.
Adobe has signaled the shift to HTML 5 creation for some time, but the final coup de grâce to mobile FLash was still too abrupt for investors, who are concerned about the uncertainty the move creates for developers that utilize Adobe products. If they decide that other tools are more stable, or that Adobe is no longer an industry leader when it comes to HTML 5, the demand for Adobe’s content creation software could decline sharply.
If that happens, the stock will drop a lot more than 8%.

Source: ReadWriteWeb via Slash Gear