Well, one thing is certainly true, it wasn't a deep, dark, secret that the report would be a bad one. The stock price started down 8 trading days ago and just kept on accelerating as the day of announcement drew near.
For the five days last week, the stock was down 15 percent to claim bottom place in the table. Yesterday, it was down over 13 percent. Then today, as the bad new was announced, the price was only down 2.6 percent. By today, everyone who was going to get out had already gone.
On 3/11, the stock closed at 10.31 - 7 trading days later, on 3/22, the stock closed at 7.38, a loss of 28 percent. I wonder how the put volume was the last 10 days or so? |
