People buy, people sellThe story probably runs a little deeper with Coffin and MPE, but I doubt he will go into it.
The reality is that investors who were holding on for news from Raymond's trip to China and for the loan announcements became disenchanted with the lack of announcements. Although there is speculation of good news forthcoming, the truth is that it is taking an awfully long time. I know patience is important in investing but blown timelines, (for whatever reasons) are unacceptable to many investors, especially if there are other stocks out there that you don't have to wade through the crap. There has always been a lack of clarity and transparency with MPE, and it continues to be an issue.
While I like MPE's possibilities at these prices, I also realize that if they ever gap up, I'll be looking for an exit. I have supported MPE in the past but have grown weary of the games that management is playing.