Sorry, but I disagree.
Loss of confidence is a contributing factor to the share price decline but by no means is it the only explanation.
The simple dynamics of supply and demand is the main culprit: too many shares for sale in too short of a time period.
You can't dump a million dollars' worth of new shares into an already saturated market without killing it.
Technically speaking, one would have to bring in NEW investors to absorb those new shares to even have a remote possibility of maintaining a consistent market cap. Given the FACT that there are few investors willing to enter a speculative stock, especially one that is virtually unknown and with connections to Nigeria, the scam capital of Africa, and at a time when oil prices are falling and money drying up, there could have been no other result.
Combine those simple facts with momentum and emotions of traders and you have a snowball rolling downhill that is hard to stop.
The lack of confidence in management is more a result of the share price decline than vice-versa.
That being said, I'm back in pretty big because I see the share price decline factor and realized when it happened that it was an opportunity that I did not want to miss out on...
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