volume is quite high for this stock already today. I just added some shares @ 2.21, so that probably means we're going lower. I suppose that a cynical take on the drop in share price could be that some of the holders involved in the proxy contest could be using their positions to drop the pps in order to foment a shareholder revolt. Of course, any MLNK shareholder who is not already unhappy with the share price is a rare bird indeed.
The business may be worth zero if they can't get it turned around. It will be hard to turn around a business that is largely tied to personal computers from HPQ when both are in a secular downturn. And who knows about the NOL's. Hard to value, especially when the Board doesn't seem to be open to any strategic deals with people like SPLP.
They hired the new CEO cause they decided not to sell the company. These guys have a long history of poor execution.