With Smulyan now mulling a backup plan to go through with a $2.40 buyout of the equity and not buyout the preferreds. Makes $1.60 look like a real bargain - equity holders won't be held hostage by preferred stock holders anymore.
Price touched the 200 day EMA yesterday, so price should now bounce.
This has nothing to do with technicals...but if it helps. Already the offer side is $2.22 - no one willing to sell lower now!
let's hope. I want my lobster.