Yeah, so if GE likes to strengthen his Company, he will close the rights offering on time - and if not, sabotaging himself, he would extend it .. which doesn't really makes much sense here.
The extension phrase reflects on the timing not the purchase price IMO.
Whatever, this seems to be playing with fire more and more on the shorts side the lower this gets. Fancy algos triggered the SLs after failing the breakout.
At lunch, around 1M were traded on the 12:47pm minute flash crash.
Today was the 3rd down day post 2Q17 ER and $1.99 represnts a 27.6% discount to $2.75. Recovering to offering price would give 38% gains.
