"Proud" bagholders who're so sure and so ignorant.
The problem is that there're endless new shares coming into the market at a steady pace from those BIG warrants holders. Even the biggest hedge funds wouldn't be able to save the stock from going down in the months and year(s) ahead.
And don't forget also, the remaining shelf registration of that $100 mln. They sold about 20 mln shares for about $70m. So, there're still $30m left on the shelf.
Those stupid and proud buyers of the stock will be in great pains for years to come.
You know what always happen when those hedge funds got it all wrong? A stock never goes up.
Those hedge funds, who bought the 20m shares, at $4.35 and $3.25, thought they got some great deals. Well. Things didn't work out the way they expected.
As a result, those hedge funds will be the biggest sellers in the coming months. Right now, they have to hold their noses to support the stock. But once the ruling comes out and nobody else to jack up the stock, they will be stuck.
It's almost set in stone now how this trading game will play out first thing in Jan, 2013 - crash.