Couple reasons, technical break down and new Class Action law suit. lets see where it bottoms, i had a 173 avg sold 169-1.70 when i saw bottom break.
The problem with this stock is there is 100 mil os and 99 mil float, so with that ratio shorts can have there way with it. Even though the shorts are 37% of the float, the capitol structure on IMB sucks in comparison to a capitol structure which is much smaller and controlled.
Take a look at SSBX shorts will hurt there very soon, because only 7 mil float, and they short 1.2-1.5 mil and way better fundamentals then IMB.
gl man
None of the above is intended as Investment advice. I can't guarantee that all information is gathered from a accurate source. I may buy or sell any stock without prior notice. You are responsible for your own trades. Do your own Due Diligence.
