This stock is its lowest since its 2006 split. No volume what is going on. No worthwile news from within are they letting their company sink into oblivion!!! Where are the big shareholders that made all the noise when they were looking to sell the company. Anyone have some good answers.
I just want to throw this idea out there. See if this scenario has any merit. We know that there is a huge short position of 9.3 million shares that will have to be bought. The short sellers need to have stock available to purchase to cover their positions. As we can see, the volume has dried up. The only way to get more shares available is to force the hands of a big holder . The short sellers may be shorting more with small amount of shares in the hope of a big institution to sell their position with millions of shares dumped into the market. That would drive the price even lower and allow the 9.3 million shares that have to be bought, a way to cover. My opinion is that the big holders will not sell and wait for any good news to force the shorts to pay higher. We are at a line in the sand scenario in which I think a big holder doesn't want to take a big loss. There still may be a bid out there for the company, even if its $8 or $9 a share. I say.....sit tight