RE: RE: Nice bounce off of $1.55!!In think a loss of the court battle is already priced into the stock. The market was efficient at shaving off about $75 million off the market cap in the matter of a few days and we continue to stay there. So what's the worst case, we go down another $20-30 million in market ? I think market's bias is highly negative on the outcome at the moment, so although there will be a negative reaction to a loss, the major damage has already been done.
Technically the stock is forming a nice cup and handle at the moment with support at $1.50 - $1.55 range.
I have become a buyer once again ever since she bounced off the $1.55 with a vengance. I have half of my intended position at the moment and will be looking to add another half in the low $1.50's if we go there again.
Fingers crossed.