No more dollar stock price for a long time, if ever.
It's going down people and I don't think it will see a dollar again for a long time, if ever. These companies don't care about you little shareholders. They only care about the dollar. They will do whatever it takes to line their pockets. Same old story and it never gets old. All I can say is "F" them.
Taking your approach - be better to use closing pricing on 5/23 (day before terms of the "Rights" were made public). That was $1.15, so $2.96/3 = $0.987. Basically, if you bought above $1.15 (in hopes to get in on the "Rights"), at this point (unless PLM turns north) you are screwed (loosing money).