Investors are worried about the dividend cut...and how much. Memp could be quite volatile over the next several days before and after earnings. I still think Memp is a better buy than Line right now. This will be even more true if they cut out the dividend for Memp and it tanks big time.
They went from around 33 to 25 (anticipating) before the drop, and then dropped to around 13 after the announcement. They climbed to around 20 before oil got into all this mess. they currently trade around 14.