expect massive selling once the restriction period ends. The stock trades to thin not to plummet. Now I understand why there has buy a huge uptick in the volume of July puts. Someone else figured this out before me. Damn. See you at fair value around $16 a share. Did you ever wonder why it plummeted on it's first day of trading in an up market......people who know, know the stock was overvalued then now it's even more so.Their new point system has done absolutely nothing to gain more sales---nothing, zip.The whole business model has been and always will be a money loser. Get out while you can and you can send me a thank you in a few weeks.
Oh and the put buying was mainly on the $20 puts. Some smart money is making a large bet that this will trade below $20 in the very near future. Follow the smart money.