I'm holding up the BS card... Some will blame the MM's, but the fact is if one shred of detail surrounding the potential $ for either of these had been discussed, the price would have held and most likely moved up. More likely, the LL and those day traders courted over the last few weeks read the subtlety of the remarks and realized this run was perhaps a bit premature. With the prospect of no real indication of revenues until the November 10Q, which is nearly 5 months from now, many will choose to no ride this out any longer. For many of us LL, the timeframes put out there, i.e. weeks to months for any substantial success, doesn't set well. Those weeks and months generally become months and years. Hope those that decided to stick with this have an iron stomach.
As a manager of several portfolios for years, the CC was a joke, but only in the sense that retailers asked the dumbest questions. Those are the guys that put in stops way down low without a clue. There are many more deals to come and the quarterly SG&A is wayyyy down YOY, so obviously the new management team gets it.