Even in profit warnings stocks don't free-fall like this. Company needs to respond ASAP. I'm out tomorrow if they say nothing!!!! That tells me business is worse then we thought. Hate to see shorts win here, but this stock is way too manipulated.
The Ex-Bry shareholders who didn't want the merger are selling. Remember, LNCO shares were exchanged in the deal, not LINE. Throw in the hedge funds who keep shorting and it's going to take an analyst upgrade to turn the tide.
Should help the stock tomorrow. The hedge funds have been piling on, but the merger news and now a notes upgrade. I see a huge rally soon!!!
Seems like they take their foot off the pedal to let the PPS move higher, then short more shares. Going to take some more time to recover. Probably , anti-buyout BRY shareholders dumping shares as well. So, the formula is causing a sell-off effect on good news.