My guess and IMO once the dust settles and all the sellers exit with the uncertainty, the SP should head towards $7 to bring the yield down to the 6-7% area but I think the name is likely capped somewhere around that area as the market obviously punishes for this sort of cut and has a long memory and will likely not give them any credibility for some time, I would suspect the upcoming or following Q results will not look very good with the action taken today. I am willing to let my small position ride as this is not a fraud story like PSN but more likely comparable to a SPB and may take several years to come back but hopefully the dividend rate will now be stable for the long term and I can sell towards $10 in a few years from now having pocketed the almost 5% dividend on my avg cost.
Good luck and again sorry to those who were overexposed and not properly diversified.