I don't want to appear dumb, but I do not see how destroying the share price is a defense against a takeover. It seems to me it would be twice as likely to takeover this company at $4.59/share than it would have at $9.18/share. Maybe someone could explain it to me if it would not be too much trouble. Thank you.
Well what a company is hoping for when they do this is that the stock price wont collapse, making it more expensive to aquire a company. They might issue special classes of stock to make a takeover more difficult. Until you hear at the CC what the specific (and they better be specific) plans are, its going to be sell now and see what happens later. I've seen this with other companies that have announced large shelf registrations.
I believe that if investor relations were caught pumping the stock on message boards, the SEC and FBI would like to investigate that idiot. What do you do at click, clean the bathrooms and empty the trash?