I don't know. My hope was, with all the volume last week, that the stock offering would end a week from now. A week ago I thought it would take another 4 weeks so we are back to that "schedule".
No stock was sold on tuesday and friday, for some reason. That was a first I think. It caused a rally on both days with 63% on tuesday and 12% on friday. Perhaps they want to support it above $1 or they are slowing it down because earnings are due a week from now.
My other hope is, that the stock offering will end sooner. Because they don't need the money, or someone could simply buy the remaining shares for a premium. In which case the book value would be higher than $8.50/share and we get a true rally.
So for next week, we'll just have to wait and see what happens. Either we will trade in this range, or, if the share price goes up then we will get more volume with it, less dilution, and things start to look better and better.
Right now the share count is 31M or $16/share book value. With the anticipated dilution in the coming weeks it should drop to $8.50/share. Still worth a shot. I still expect to see $4 or more at some point.
