I bought 1200 shares at $5.60 which, of course, is a tiny position. (I had been watching the stock for a couple of months now.) I think the selling is way over-done, but everyone has heard the admonitions about "catching a falling knife".
If the stock falls further, I definitely will NOT sell. I'm just thinking about the possibility of buying more. My thoughts are of buying 2000 more shares if it gets close to $5. Any thoughts on this idea?
At the risk of excessive optimism, it may take an actual malfeasance to bring YONG back to low $5 range. When a legit stock is driven down to a $2 forward EPS by unsubstantiated fear, it is arguably at a bottom.
Evidence of legitamacy (e.g. convincing response by mgmnt.)could take YONG much higher (~$10, imo) from where it bottomed yesterday (Wed.). A note from KPMG, as example, could take us closer to the target price of $14, a PPS that has considerable risk already baked in. That's the shorts' catastrophe scenario.
Shorts are betting on another shoe dropping, which may not happen...