BTW, yes, SCH got crushed on anticipated earnings, but that is less relevant, than EGRP, which also had earnings. The market was bad for both, so that's no excuse. And what is the result? EGRP goes UP, while NITE goes down - in exactly the same "bad" market. Market sentiment in a nutshell (with emphasis on "nut"<g>). Clearly, NITE is not exactly a darling - none of the OLBs are getting much respect these days, but NITE which is lumped together with them, seems to be a "special."
At this point, if you didn't trade, but simply bought NITE to hold, at any time in the last 7 months or so, you lost money. The technical damage at this point is so immense, that it will need practically a wholesale change of shareholder ownership - because as it climbs, many people will be selling at their various break-even points. There will be a reservoir of permanently traumatized former holders. This is not great news, because those were the people who were aware of NITE's existence. Now it'll have to recruit a whole new shareholder group - slow process. Meanwhile, there are still quite a few shares overhanging, that need to be cleared.
Morgan |
