This used to be once a $ 60 stock. It will get back to mid 20's in no time and if it is bought out it could be around $30. Today was a buying opportunity. The lithium and potash deposits are still there and did not disappear with the CEO. Most traders who saw this thing dropping sold and are reviewing the reasons later. Also a lot of stops got triggered. I bought.
Which idiot is calling me an idiot? I said with most brokerages. Have you tried to short stocks under $ 5 with Scottrade, Fidelity or Ameritrade? You can't. Crawl back in your hole you pompous know-it all.
Of course the shorters covered around $ 2.05 since they must have known in advance at whhat price the secondary would be made. Certainly they did not get terribly rich but $ 1 Mio in 2 - 3 days is nothing to sniff at.
You are right and those hedge funds shorting the stock should explain to the SEC why they did and just at this moment. Somebody leaked the info that new offering would be at 2.00 and then this stock was pumped up to over $ 3,00 in order to attract new investors. No individual investor can short stock which is under $ 5.00 at most brokerages. So this was a scam.