unless we closed at $3.00 A .50 drop would have jingled a few more shares from those margined to the gills. Its been happening all the way down. They sell just enough that day to cover ...but if SP continues down...more have to sell more. Price of shares going from 7 to 3 is not what is controlling...but where investor bought in relation to drop and how margined they were when they bought is.
confirmation that PNP is done is important...we dont need another Shabby (for those who went through XXII debacle) banging us on the head again.
actually both my accounts with 2 different brokerage firms saw a large reduction of cash requirement from 75% to 25% about 2 months ago right after the CUSIP change (IIRC) resulting in a sudden spike of buying power. I used some of that spike to buy more ANY shares as it dipped below $5 then $4. So now I have to give some of those new shares back that I bought on the reduced margin. I think others would have to do the same within the next 2-3 days.
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