It looks to be off to a flying start again this morning. Something is definitely going on with the preferred. Insider trading? Maybe the 2017 note holders looking to give themselves a bit more leverage against management by buying up the preferred?
someone purchased a 30k shares block at the close..
86k at 3,50 ( but the close is 3.58) is interesting.
I bet that a reorg plan will be out tomorrow or friday , and the preferred holders will receive new pref at 30c on the dollar or something similar, like common shares.