Don't be surprised never to see $7+ again on CXRI can't imagine anyone with a lot of experience buying the stock or bonds at this point? The charts seems to indicate a classic bull trap.
The downsides here are tremendous. I chase bottoms so normally I would have bought but how can you ignore all the red flags? Are you all daytraders here or longs in complete denial of what the CEO has done?
The problem with this stock is the uncertainties around it are far from over. There is a lot more to be baked into the stock before it stabilizes. The end of week relief was a classic bull trap that will benefit short sellers who were late to the party. They all seem to be waiting for news although they don't actually do the typical bullboard bash attack. I don't think the organized short sellers in the US have paid bashers on payroll here. If this was a short and distort, you would be seeing a parade of various bashers and board would be filled with junk to scare people into selling.
I'm seriously contemplating taking a large short position above $7. And looking at the bonds chart, I'm wondering if retail investors can short the bonds as well? Any retail investors here with shorted bonds? Is the margin the same as stocks to short sell (150% requirement?)