SO underwriters are holding the stock down at $6.71 and selling their over allotment option which they had 30 days to do. Once we break through the 3 million shares they have for sale (believe that is the amount) we will have clear sailing.
Three million was the amount. We have 2.5 million shares traded today. Of course not all the over allotment, but as you stated, some of them are. It may take a few more days to get through them, but get through them they will.
You don't understand how the underwriting process works. They sold the extra stock in the primary offering. They went short those shares. This allows them to buy them back at a profit if it drops below the offering price to "stabilize" the market or cover their short position through the over allotment option if the stock goes up. Heads I win, tails you loose. But the underwriters are no longer in the market for the stock. I am sure they covered last week by buying in the stock.