These guys are making too many mistakes!! That secondary was a travesty, except for the select few who were able to buy stock! Then they sit on it, and probably knocked it down when the earnings were released. I cant recall where any domestic company would have allowed there stock to sink from 23 to 14, and then did a secondary. They should have let their earnings dictate the secondary price!! They need a CFO, who understands markets, and I am not talking about pork!!
A simple solution exists for all secondaries and IPO's. Have two prices set. One for retail small investors, and one higher, for institutional investors. That way, a small investor could participate, and feel as though he is getting a fair shake! When was the last time anyone on this board was able to buy stock on either a secondary or IPO??