Nice move today, if you are SHORT. This stock is starting to tick me off. When it didn't punch through 12.5, I was getting worried, but I thought it would bounce. Support according to Market Edge was 12.02... NOT.
I guess I'm a sucker, again... go ahead Hootie, told ya so's are in order.
Don't give up on this stock. I'm 95% sure that that within 5 months it will be trading above 15. The market has yet to recognize that this stock is undervalued. It is selling at just 90% of book value, and it is a solid and profitable business. The latest news just means that they will lose at the worst 14 million in revenues, on the 425 million that they have, which is only like 3%. Wait for management to start buying back stock. They haven't done so yet, and when they do, you'll see a move. I just bought more a few hours ago, bringing my average to $11.3. It has virtually no downside at this price.
I forgot to say, the catalyst for an upward movement will either be management deciding to repurchase stocks, or their earnings report on Feb. 15th, whichever comes first. So, if you can afford to wait a few months, I suggest you do so.