My rational explanation is the float is still small & the spread is still large so these swings will continue to happen. We should be getting a steady stream of news beginning anytime this quarter which will help us avoid these large swings. There was no doubt a bit of panic selling yesterday which is only compounded by the share structure and the fact that we are still waiting on more news to be released, i.e. data, shareholder vote, merger close. Just like we saw over the past couple of months when new buyers come in we move pretty quick. Until then what the SP will do is anyone's guess.
These are the times were it helps to have your own valuation on the company and add if SP is below it. I believe, ultimately, anything under $10 will be a good buy. I would have liked the $10 SP to hold but nothing we can do about that now. A lot of us here have sat through some really boring times with this company, now is definitely not the time back out. We should be seeing plenty of data beginning this quarter and lasting through the end of next year so I don't expect to remain down for very long.
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