Seems like we have a pretty solid consensus that this stock is in huge trouble in the near term. No catalysts, no hope, nothing positive at the moment. Horrible momentum and an overall market that can only go one way: down.
So how low does this go? I think we all agree the $10s is a given and should see that pretty easily. So how low into the double digits does it see? Touches $7s?
I know it sounds ridiculous to think about, but given what you just said, who in the world would have thought $11s was possible? So anything is possible as reason has already been thrown out the window. Right now perception rules, and the perception can't be any worse for this space. And you need catalysts to shift that momentum, of which we have none. We also have no management support and we are left to the wolves. Shorts can easily take this a lot lower as there is no resistance and no long support.