Our little doggy is down and on high volume. Finally selling under a buck again. We should be due for another name change and reverse split.
Ol Leon hasn't had the best of luck lately this isn't the only turd in his portfolio. He made his money selling long ago while you were all thinking he is going to help out. I learned long ago where Leon goes I leave ASAP. There was a lot of hope that the other funds would help this dog hold it's share price. Apparently not.
Now Friday afternoon and still no resolution. Told to wait until Tuesday and see what happens. Upgraded to the backroom whatever that means.
Today Thursday 1/14/16 is the 3rd day of the worst customer service experience a person could imagine. On Tuesday morning there was an upgrade. Ever since my account has had trading permissions blocked going on day 3 and hours of waiting to chat.. 45 minute phone wait led to an hr on the phone. No answers no help nothing. This is almost worse than cable. think twice if you need customer service
Just for fun I did some quick math using rough estimates and the short position has decreased in value by over 300 Million or more from the high until today. IMO
In effect today. So many people have dumped this mess and the shorts have destroyed what's left so now there is no longer any left to loan out. There never has been a large short but there is one. A divvy hike about now would certainly help the price. We all know that's wishful thinking.
Have seen this also. I did some research into my account and dividend in lieu. If your getting your dividend in lieu, which many are because of the high short interest, then you should read carefully about the tax effect and the actual rate you think your getting. Clearly explained in the Wikipedia finance page. I came to the conclusion that it might have something to do with the N/A. Strictly my observation Take it for what its worth to you.
A good look at the financing package would help. If, a stock is sold down $3 over 10 days or so then consider this scenario. Take the average and estimate how much came in on the sellers side. After expenses and set aside of the upfront money, The estimate will provide an idea of how much one will have to borrow as a loan. Of course there are other factors involved that effect the total overall package. The big dogs involved here will keep the price down as they begin short covering. Holders who use the div against the purchase price will be a long time getting down to a profitable number. Smart money sold in the 8s and also sold $5 puts so there will be covering over time.
My guess is they financed a bunch of the new purchase dumping shares of stock. Shorts jumped on the bandwagon. They can pay 10 years of divs with the drop we have had and still have money left over.
I guess your concept of dilution was right. Like I said before the downside makes this a hard stock to own. They will dilute shareholders and that's not a good thing. Almost back at 52 week lows.