I just looked at the drop to the year low with a handful of shares traded and thought, this market has capitulated. Stocks I own that are established companies trading in low multiples, ridiculous swings and chaos nearly. I guess you can make money in this market but don't think PKT is alone please. And don't think earnings will bring what you want either.
True earnings alone wont do it but if they confirm the guidance previously given there will usually be confidence and a kick up if positive guidance is given for the next period. However , I admit, that JB gave positve guidance which was exceeded gave further good guidance,and PKT went nowhere but the shorts will have to give up eventually if PKT business continues as JB envisions.
I think you are right. PKT appears to have finally capitulated. The other times it hit these levels it was met with volume and a recovery. There was buying support around this level. This time: nothing. Buyers appear to be completely tapped out, there is no news of significance, and earnings is still a long way away. And now the overall market is surely due for a correction, which will drag PKT down even further.