Sure I can see the stock trading down on concerns, but believe the selling is mostly VZ shareholders that got these shares in spinoff, held when it went up and are now selling at year end when it is down.
The VZ shareholder are huge.. maybe 60% of outstanding shares, so lots of selling pressure. they never followed or bought or made the conscious decision to invest in FTR, so easy to dump... at any price.
I could see it going lower before YE, but think it is a great deal below $5. Most likely will bounce next year when results are not as bad as currently "feared".
After the July 2010 spin off the selling that kept FTR in the low $7's for a couple of months was attributed to selling VZ shareholders. Many of them posted here and on the VZ board that they were selling. There were several days of 30 - 50 million share's traded.
I think attributing current weakness to selling VZ holders is a stretch -- not that many VZ shareholders didn't keep their FTR shares. But I don't think it's just them selling -- it's no doubt a cross section of shareholders that have been unloading a huge price loser with an uncertain future.