Next Q would be next consecutive drop in net income, they came down from 13 to 10 Billion. Will be under 8 billion in net income next Q. December may see some minor strength, but in general the downtrend is intact. This should come down hard. There is no valuation that is justified for a stock that has declining net income. Its hard to believe but that is what it is. A couple weeks down and people who sold at 92 would look like rock stars.
Must have been an adjustment to debt. There should have been a filing corresponding to that. So lets see if we get something in a week. I am expecting about 15 million debt extinguishment if that is what it is.
there is a good chance that they may swap out all of their debt for equity even at current prices, which would mean about 80 to 90 million more shs. gets us to around 150 million shs outstanding. Maybe that's why they increased the authorized share count to 150 million.
The earnings are going to be bad and they will be bad next Q as well, turnaround will happen after that. This is under short attack and could go close to 10 or under. Long term all would be hopefully good. but the next 3 to 4 months is when we will make a new multi-year low, would be the buying opportunity of a liftime.