Smells like similar short attack as Andrew Left/Citeon against CVSI CRON and others. Take a short position, throw out ideas to cast fear and doubt into minds of the holders and then cash in as the price drops. The selling is intensified by stops being triggered which the shorts plan on.
What makes it even more suspicious in my opinion this time, is they waited until a short seller conference to announce this. So let’s tell all our like minded buddies first so they can get their short positions, then let’s break the news. From what I’m reading, this is the same guy that brought similar allegations about the Nuveera deal earlier this year. Yet the stock price recovered.
With the overall decline in pps the past couple months next I expect to see the ambulance chaser lawyers looking for a lead plaintiff for the class action suits I’m sure several firms will file.
Also read rumors of insiders buying shares at the lower prices. Gee if I knew my company had done nothing wrong I’d sure want to stock up as well. Haven’t yet seen any filings showing purchases by employees. Guess time will tell.
Just a matter of either waiting it al, out or bailing and trying to find a re-entry point later IMO.
