The parent co. did not get 13.85 there dumping of 10 million shares on 9-27 and on Monday 9-28 was the start of this. They are still selling as they have over 12 million shares total to dump. the normal volume all through July and august averages under 50 k shares a day. Presently we are still averaging over 200k shares a day. plus others are now selling for fear of why this has dropped so much. Anytime you dump 12 million shares on a low volume stock this is what happens. I think this week should complete the parent companys big dump. Time will tell. !!!
I tend to agree with you, so I ran the numbers. From Sep 3 thru Sep 24 the average volume was 29,113/day for a total of 349,350. I discounted Sep 25 & 26 as that higher volume looks like selling on the announcement. From Sep. 27 thru today, a total of 14,176,515 shares have been traded. Subtract 349,350 normal volume and you have 13,827,165. If every trade has a buyer and a seller, then they have only dumped approx. 7 million or so. At the current volume of 360,000/day or 180,000 sells, it will take another 28 trading days to be done. At the average rate of decline since Oct 1st, that will take the price down to 9.23. Am I out to lunch? I hope so !!!