It's counterintuitive, but some should cheer the drop in price
Not only the shorts should cheer this little drop in price. If you, like me, happen to do a dividend reinvestment program with your stocks....well, your in for a treat. Xinyuan pays out $0.05 per share dividend tomorrow. So, say the stock drops 6%, you'll actually buy 6% more shares than you might have otherwise bought.
Yep I was happy to see the down move today. It was going up too fast and I was worried they'd taper off the buyback. I need to win my $20 from snowman and I feel better the bet today than yesterday. The lower the price, the more shares the company can pick off for cheap. Enjoy your 6% discount, don't think it will last