I think we're seeing the end of the panic selling. And rightfully so.
The bottom line is the company is a $50 to $60 stock regardless of what happens with all this nonsense. People in the grocery aisle are grabbing Diamond products, oblivious to the nonsense with these inquiries and accounting issues. Smart people understand that, stupid people just keep shorting.
However, the decision by the company to stay mum through this is absurd. It's sickening. They do not have the backs of their shareholders and that, to me, is disturbing.
At some point this so-called "news" becomes the equivalent of a boy crying wolf. This identical to when they announced the "official" SEC inquiry in December, after of course the company announced its own internal audit. And now yesterday we get the "official" word that the DOJ may be inquiring, although people fail to realize the DOC and SEC are the same thing. It's not new news, it's just noise. So people get scared and panic sell.
But the company really needs to put this behind them. Dragging it on does no good at all.