Ok, what am I misssing? If we can buy 1/3 of a share for $3.00, it seems pretty obvious that the rights have no value unless the stock is at $9.00. How do they expect to raise any capital through this if no one would exercise any of the rights?
What ever it means it's risky, not good as the stock keeps going down. I say buy on real bottom going to possible $3.50 before Friday then hold for next big good news. This news today is not having a good effect. It's just weird news! Buy LOW stay long!