Uh, speaking as one of them, "most longs not sellin at this level" has just a teeny weeny bit more to do with the insignificant funds they could recover (sitting at a > 90% urealized loss) than any faith they have left in the company's ability to deliver on promises.
It also allows us to send a signal to management via our votes, although I'm not naive enough to believe they take shareholders' concerns even slightly seriously. (Case in point: last 2 conf calls' Q&A sessions was nothing but nose-thumbing and avoidance of real questions).
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