I’d like to think it can’t go much lower but it continues to surprise me.
Not a good situation. It's far enough into April to assume Q1 sales aren't going to wow anybody. They had the secondary ready to go after the Q4 call and had to know at that time they couldn't get the loan at acceptable terms, why else raise in the hole unless it's your best shot? There was a nice pump from the call, they took advantage.
So some of this is the market as a whole being down. But at all time lows with the market just off few percent off of all time highs, it's mostly RVNC.
The sales have to start coming in. That's the bottom line.
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