I doubt many people will sell their shares in the low 20s but shorts will be covering and vultures will be buying up all they can in the low 20s.I see shorts bidding up at the open (there are over 800,000 shares shorted last time I looked) and daytraders looking for a quick pop. As spooky as it appeared after the close, I imagine we will settle in the mid 20s after it's all said and done.
I mean after all, we beat the the earnings estimate and the PE ratio is only around 11, it's not like we lost money this quarter and are way over priced. The worse that can happen is to get downgraded to $30 which is still above where we're trading now.
It's still abit disappointing and the less shares there are outstanding (buy back) the worse the price swings will be.