I don't think any of longs are selling. There could be a few holders of a few thousand shares that maybe was hoping for a quicker ROI than what the company is providing. Can't help that they exit at the bid and want to move on to another investment that's outperforming the S&P at least, I don't blame them. If the companies PPS is detrimental to a deal maybe they should support the stock and buy up those weak holders for say, at least $2 a share? If the PPS has some influence on a banking deal they sure don't seem to be showing any support for the stock at this level. Heck we saw a $1 bid today. That's amazing wouldn't you say?
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