Clearly this was manipulated and held down for options expiration last week. I'm happy they did that as I increased my position significantly. Cost basis on my 40,000 shares is 2.65.
Just thing everyone after last earnings report and CC this thing dropped about 50% over about 7-10 days and 30% first 2 days. This time it's actually up since reporting. It withstood a silly downgrade or two also. Looks to me as if the tide is turning and things will get better. I have bought shares and ITM calls and sold OTM puts. to offset my cost basis. I feel an easy 60-100% gain over the next 6-12 months.
The stock is at $2.5. The risk reward ratio favors longs. It can only go down $2.50/share. It can go up much more. I'm not one of the people trapped from the previously high valuation the company, but I am somone that is going to buy 5000 shares at these levels and hold for a year and hope that the European market takes off. The U.S. market gets better and if we get a buyout, great. I will also sell some puts to reduct my overall investment.
You made a foolish and incorrect statement that the low in $52 weeks will be $67.75. I have already been proven correct. I never said $50. I said $50s. IT's not that far away.
Just think, they will be losing less per share. What a great company. Now or course, don't forget, it also means if they make money they will make less per share.