They did the same thing with QCOR. It was at 50 and they took it to the teens with the SEC doing the same thing and law firms jumping on the band wagon. Turns out nothing inappropriate. Now that being said QCOR is still not back to 50. So these wall street legalized crooks could take this much lower before they cover. This is big wall street firms doing this. They have nearly unlimited funds from the FED. This is not like HLF where Einhorn;s hedge fund had went short then Icahn put millions in long and took it back up. The big boys do not step on each others toes. So be careful as wall street and the FED work together to take your hard earned money. You say crazy. Yes, just like the government spying on us is crazy. They wouldn't do that.
QCOR was as high as $57.50 before the short attack dragging in the SEC. It dropped to a low of $17.50 in 1-2 weeks. Currently after 8 months, it is now back to $47.50. Yeah, couldn't recover all but still close. So, I like splitting up my allocated money into tranches. Add in as it dips lower, and eventually the cost basis will be in the middle of the rebound. By doing that you are still ahead. It doesn't work if you put the lump sum upfront at the beginning.
But, in May, at a conference, the CEO stated:
"Well, we are like a lot of companies under DoJ investigation, and our lawyers tell me I can't really talk about it. And that even if I did, the information I would give you wouldn't be that useful to you because these things change, and lasts years and years, and we are only just a little bit into this. These things can last for many, many years, so we are being highly co-operative with the government in this thing, I will tell you that much."
So they are not out of the woods yet, even if the share price has recovered. Besides, that is a DOJ investigation, not an SEC one.