Aug 8 puts seeing huge volume surge in past 10 mins. Makes sense
Break-even on the Aug 8 puts targets PPS at $7.8 within weeks, or 33% lower that current share price.
Lets put it all into perspective - after last night's earnings update, mgt has confirmed a significant material deterioration in the current and forecasted business, in fact much worse than where the company was at the 52wk low of $9.88 on June 26. Clearly, mgt did NOT exercise their fiduciary duty to shareholders when they recklessly purchased Wester Coal, and subsequently camouflaged the blunder with smoke and mirrors. Audley Capital was spot on!