RE:TD has just updated its research on VRN Hear me now believe me later...
Today's volume was 17,632,714. Significantly higher than the daily average.
Almost exactly one year ago, Bryska and board flooded the market with an additional 48,550,000 shares. All of these shares are significantly underwater. The current float sits at 615,539,646. Many of these shares are also underwater.
Between excess global supply, slowing economies, higher inflation, higher US rates, forecast of a Trump win, and we're on the cusp of a perfect storm that could result in a tax loss selling season for VRN the likes we've never seen.
Tread and trade carefully. Big money ran for the exits today. More will likely follow suit before the end of December. The market spoke today that they have lost confidence in VRN and management.
Income wrote: It remains a BUY with a reduced price target of $12 (previously $15). It appears inexpensive to me. As a newcomer to this stock, I have been purchasing shares. Today's overreaction should subside. It seems as though all the sellers have exited.