There has to be good news coming any day now. Wanxiang (or any company) does not throw around $450 million unless there is a future with this technology. You don't take a flyer with half a billion dollars...
It's been almost a month since the wanxiang announcement and shares obviously were being dumped on the open market, as a part of the financing of the deal. Which the company has been far too tight lipped about.
If you go on the company websight they are hiring agressively and all signs point to business as usual.
Bottomline, if not for the recent recall the earnings would not have been as bad, this tech is good and going to continue to improve and there is a very real possiblity that the company trades back in the 5-10 a share range in a couple of years from now.
I believe this radio silence from the company has something to do with financing of the deal, and once the details are all ironed out and the uncertainty is over, we see a sustainable move north very quickly.
If news hits, this is over a $1.00 in a day. This valuation is priced at bankruptcy.