Right rlivingston, I think also that PAST is holding back some investors, as well as fueling some short's hopes.
What they are not taking into account is that those 2008 deals most probably would've materialized if not thwarted by that very year's generalized economic partial collapse.
I agree CPOWS present circumstances are very different, that is, talking just about the current ones, are all in favor of CPOW and its longs. I think they are missing the big picture, for focusing on a partialities: CPOW's old financials and struggling past.
If that is all the data somebody has (the past one), I would think also "CPOW is coming back down for sure!". Some refuse to look at the present and potential future because that is against their interests, they refuse to do an objective DD, they stay with the info Sykes and Lebed spoon fed them, and now is too late, the money is on the table. Though they could start covering, but not much time left for them, IMHO.