My thoughts "Apollo (APO) submitted a bid in the final round of Concordia's (CXR.T) auction process, the person said, adding that there is no certainty that the deal would materialize."
The bid's got to be higher than this price. Under Book value, the panic is real. Mutual fund, Hedge funds see big loses, want to cut, stock goes down, Shorties profit in the short run. The more it goes down the more "fear", even when there's no news. Be rational, I wouldn't short, if a deal passes your screwed. And shorting at these level's.... it's betting that the stock is going to 0. Im long for the long term. If next quarter profitability is down again, then that might be a good reason to get out or short.