Why? The current stock price reflects a bond equivalent price of 40.75. That's a pretty significant decline. I was also a bond holder and I feel I got screwed by the convert buyers/management. Its interesting that the equity holders got warrants in a deal in which the bondholders weren't close to being made whole. I think this happened in part because the BK restructuring did not take into account the new converts.
I sure didn't forsee the conspiracy between management and the 3 bondholders that literally stole the company and hoodwinked the judge. I can't believe that the other larger institutional bondholders didn't protest the sweetheart deal. Bondholders would have gotten at least 70-80% recovery if not for this action. I still believe we will move towards $15 soon.......because of manipulation. Market maker is just taking out the weak hands right now. Glad to see volume picking up. DaninFW