Down to $2.50 a share by PM. What a joke. No the biggest joke is the SEC won't do anything about it because they simply don't care. That's why these morons can get away with stuff like this over and over again.
Sssshhh the shorts didn't want you to notice that. These things happen. I've seen prices drop below ADCOM results that were 22-0 within a few months. The PPS is determined not on common sense but who they can allow to cover and when.
All this because one guy leaves?? Kinda overblown if you ask me. Shorts probably knew this was coming and saved all there milk money. Stop losses that were set prior to the news have been taken out and at this point we might as well drop to a $1 real quick and let everyone get a do over.
I will ask you. Why would company X pay more than 4X the current value when they can buy it all for under $2. Can you explain that? You will say that all the shares are not available to buy right now and those that have shares locked up will not part with them for less than $8, etc... Okay that being said, why would company X pay more than 4X the current value when they can buy it all for under $2.
and then went long with there covered shares and gained another $4 on the pop back up. This is not considered legal just in case you need to know. Everyone can digest news and if you sell you risk what just happened. If you held, you recovered 50% in one day. There is no wrong doing here but the lawyers will make you think so, Stay tuned. Watch for Dumb, Dumber and Dumbest as well as Lowenstein, Lowenstein, Lowenstein and Lowenstein.
advertise for clients next week due to the dramatic loss and recovery. Some poor fool that sold will call one of these sharks and plea that they get his money back. Just you wait and see.
Interesting indeed but why is Carl staying on the sideline? He had 90 days to buy in at or below a buck and no dice, WHY?? What's he doing right now. I would call Mr. Sriskandarajah, and pay him as an advisor to tell us what Carl is up to?
So, Carl hasn't become a 5% owner as of mid April so he's insignificant as of right now. He owns the debt sure but it's due in the future.
Yet still no Carl Ichan???? People think he is grabbing up shares but is he? Doesn't seem like it. Unless he's developed 10 companies each with 4.99% each. maybe he's in bed with NTC as a joint venture. He holds the debt and they grab the shares.