The company did much worse than I imagined and had much less cash. In light of its performance, the stock acted much better than I expected. I thought it would fall more.
Frankly, the CEO seems to have good ideas and he seems to be doing the right things.
But the company now needs to finance its operations with its credit facility. And despite the CEO being earnest and saying the right things, the company is still not doing well. There is not much margin for safety.
If they pull it off, they deserve a lot of credit but that's still not the way to bet.
I thought they'd have 100 million loss, but thought they conserve a bit more cash than they did,, but as for the stock, it was being heavily manipulated for the up side and will take a fees days to decompress.