Positive news (non-dilutive plan), BAA goes up. Short of that, BAA continues to drift down. Negative news (dilutive plan, even if only by the market's interpretation)...
A price/book ratio of .14 usually means:
1) The company is virtually worthless (with book value unrealizable), or
2) The company is extremely undervalued.
The first is clearly not the case with BAA, which means the latter is almost certainly the case. The only question is the degree of undervaluation, with the uncertain size of the "eastern Congo" discount (likely larger than most assume).
Short-term money is controlling the stock price right now. If truly long, what's needed is patience, which means whether it is up or down today, tomorrow, next week, next month, even next year, doesn't really matter. My BAA shares are in a lock box that won't be opened until one, two, even three years from now. I might add to it, but won't start selling until I've notched a 100% gain (about $0.90 right now for me).
