The dividend cut shouldn't be a concern and it should be viewed as reasonable move from management to preserve cash when the co is facing negative dynamics and in the transition. This is a matured business however it is facing headwinds and may take time for the co to get through. The key thing for this is that the co needs to react quick and correctly... cutting labor cost, transitioning, cutting dividend are all good moves.
This stock may be still manipulated by shorts due to huge short volume, but as long as the company stays in the right direction, this stock will rise with no questions. One interesting point is that the price is under pressure even if the volume of short is keeping down. This may be a buyout signal I hope.