I am seriously starting to think someone is wrong here. Doesn't make any sense at all. This plunge below 11 is ridiculous. They are growing by leaps and bounds. Earnings projections show growth for next year as well. CIC closed at pre-agreed upon price.
This sell-off is crazy! After stepping away for a short while I am now building a new position with AES. Started today and will be adding more in the morning if I can get a limit order in place first AM. A positive bounce has to be real close.
Here is what I honestly think. I think someone is deliberately trying to get this thing as low as possible because it is getting ready to bounce. I have seen this happen over and over and over again. Don't be surprised if some analyst comes along and downgrades it, only to get it lower. The options strike price is around 12.50 ish (I think) so all of this is a sheer manipulation. That is the bottom line. And yes, the market maker knows exactly what is going on, so he too is making a profit from the while scheme.
Its really simple. Some large holder needs to liquidate for whatever reason.
The specialist/market makers have become aware of this, and are using thin trading to extract as much from this seller as they can.
You will know the seller has fully liquidated when the price just starts coming back up for no reason.
When I was younger and inexperienced, I would place large trades on stocks. I noticed that the simple event of seeing a large purchase from someone with an etrade account was enough for the specialists and market makers to drop the stock price afterward, and yes, I admit they did spook me into selling back at a loss. They simply assumed a large purchase from an etrade account meant a margin buy or an easily spooked investor and basically tried to margin me out of the position or scare me off with a sudden unaccountable and scary price decline.
In the case of these long slow sell offs, its some big hedge fund or institutional seller or large trader who really needs out for whatever reason. Rumours around the street or just watching the price action is enough for the specialists and market makers to realize that they have a seller over a barrel.
Funny how some other large players see's what's going on and has opened a huge call position in anticipation of that this big seller will finally be out soon enough.