The damage from the secondary is of such a magnitude that it might take months if not years for FLY to fully recover. The institutions that are holding on for now have will dump if it ever gets close to $16.
What kind of directors would price a secondary for a $17 stock at $14 ? Doesn't seem very shareholder friendly. I'm about 40% in the green with FLY so I'll keep it on a short leash and if it gets close to my buy price, I'm outta here. It was a nice flight while it lasted.