Bounce tomorrowThe shorts used their entire ammunation today to pull this co down, fair enough coz the CEO ensured that shorts have their day, guess thats why he chose to dump all lame information on earnings date. It could have been done a week before or after.
Having said that it is what it is and everyone knows how the sector and its management rolls.
Based on the charts and the direction around noon, it looked like we would be back to $7+ and close around there.
A 19% sell off must give a bounce of 6-8% tomorrow technically coz this isnt any scandal which brought the price down nor there is any risk to going concern concept for the co, its just that the shorts took control and probably stop losses triggered.