An excellent point, bearski. I don't have an answer. Obviously their clients are some of the many sellers and will be very thankful to them for the first "heads up". Of course those clients will be wondering why they didn't get warned a little earlier(. . . .like around 7), but better late than never. Saved them 8%.
What is inescapable is the plummeting share price on substantial volume. Where the hell are the buyers from the other firms that still have a $7 target?
Hardly substantial volume. Likely a bit over average daily number with a bunch of amateurs running scared. Price of Nat Gas was up another 9 cents today to $2.26 or so - that's 35 cents in 5 days from $1.90 - that's substantial. Something is very fishy about this call but guaranteed, they know absolutely nothing!