RE:S/P would be $3.00 to get 6% dividend.Some investment firms thought a dividend cut was needed...others thought it was safe.Topic of discussion with many was share buy backs was more important than sustaining a high dividend.Others stated it was over sold ,yet others say the drop the last few months resulted in a bottom as all bad news was already priced in.It was all over the map indeed.
The only positive was the news I recieved a week ago was 2 fold..one being the dividend was probably ok( wrong) the other being the company clarifies it's strategy going forward ( right..sort of).
So it's difficult to say if anyone as an insider actually knew something and sold accordingly.Personally I doubt it as why were insiders even buying the last few months.
Unfortunately this company and shareholders,are going to need a few months to " stabilize " going forward.
In the meantime we will see tomorrow what the reaction will be.Anyone that sells tomorrow will have lost a huge % ..and it doesn't take a math wizz to see that.
Many may possibly believe the bottom was hit and stay the course.
The next few days will be very interesting indeed.
Good luck to all.