No doubt it was how the raise was handled. The momentum before the raise was continuing to build, PPS was steadily rising and then investors get blindsided with a raise. Granted, it's hard to argue with Mac to not take the money while it's there. A bird in the hand is better than a bird in the bush. The demand was there for the taking. The money secures funding through the majority of 2018. So I get it.
But it seems to have left a bad taste in some's mouths because the PPS is dragging like an anchor's tied to it. Hopefully that bad taste will go away over the holiday break and with the new year we'll see some good appreciation.
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