We bounced off of the $2.20 line several times yesterday, and today's action (so far) seems to confirm that $2.20 may be the near-term floor. Barring any external / broader market driven downward pressure, I'm expecting this to perhaps take a breather for a couple of weeks and then start an upward climb headed into the next earnings release. This stock certainly has downside, but the upside is massive if they're able to return to profitability, and we've seen signs of that in the past couple of quarters so we should see speculative value investors returning to the stock over the next couple of months.
I'm jumping out and reassessing after earnings. I've made a ton but retail is taking a hit right now. I think the next quarter is not going to look pretty and the it goes up early next year. Just being honest here. Could be wrong but I need to protect profits at this point.