They stated there would be an stock offering but gave no numbers. They said a stock offering will be filed with the SEC and only thing filed was a 10Q and it's not in there unless I missed it. Is the company just sending up a trial baloon or did they just want to combine the miss earnings and the offering at the same time and take only one hit. What did they think they would get per share now. You have a stock offering when you BEAT EARNINGS, hit a HOMERUN, or hit a new 52W HIGH , not when you lost 16% of you PPS value.
They don't have to give a date for the offering but they do have to state a ceiling on the number of shares to be sold.
We have a habit over-reacting to any news. When the smoke clears and all the nervous nancies are shaken out. This had a support level of $15.75 and it broke through that. If it falls below the next fibanacci level at $13.85 then it can and probably will go lower. It closed at $14.02 on Feb 6th and became a hold from a sell with higher highs and higher lows, this was the start of the uptrend, Technically it is still in a long-term trend short term is another story, We will see what monday brings, I can't predict the future just react to what the stock is telling me, it hit a low of $14.59 but bounced over $16.00 and then went to a close of $15.51. My crystal ball was broken in 1997 since then I have to guess like everyone else, happy trading