At 1215 PPS 5.58 in 37 min. drops to 5.07 ! Almost looks like stop-loss triggers but it took too long. I would be careful the funds may be playing with the PPS. I'am sure you have heard "buy on the rumors sell on the news", well the opposite is also true. If the earnings come in at or above the low expectations after the beating we are taking, the PPS could soar.
This is disturbing. I am sure you are right about the stop loss issue. Institutional trading pattern in play for sure but why ? No sign that there is any problem. Some insider sales. GTN is trading the same way. BLC is stable but they have an offer for merger at 13.75 and it is at 14.I am looking at a re-entry point but now I have to see the earnings report. If it is good it will bounce hard imo.