The water cooler effect would probably not hit suddenly. I think I'm reading it correctly... someone dumped shares this morning, not realizing their order would actually impact the price by several %. (Happened to me once, not having much experience with stocks that trade at such a low volume.) We are close to earnings, so when people see that the price has gone down they assume it has a meaning and it creates a small selloff. Volume was pretty low even after that anomalous dip this morning.
The takeaway is that there is more going on here... it does matter to rational investors when CEO repeatedly misses his own deadlines. Credibility is in question for good reason. The waiver we're talking about now replaced the drop dead Oct 1st date...
Good luck... I was forced to sell because I need to cash my account soon, won't be able to open any new positions for a few weeks at least. I may be really frustrated if this blows up in the meantime! :D
Ppl shouldn't have been talking gleefully about it all month, if they're gonna turn around now and claim it's nothing.
Not likely to fall below 15 unless there is a much bigger failure than that.
In the cc the impression given was that it would be before the end of the month. He didn't say they would release a pr (I don't think), but the gist of it was clear. You can flame me for saying so but clearly the market agrees. Not sur why they would release a pr simply stating that they have a waiver, especially with earnings cc coming up in a week.
It's not something to ignore, but it's probably just gambling on the possibility that they don't have orders within the time frame given, which could generate a significant profit for shorts. On the other hand, if they do finally deliver it could be a multi-bagger, so it's hard to lose even if you are short now.