The common stk may be little changed, but the debentures which are/can be exchanged into common shares at the discretion of the company & not deb holders you can be surewho want cash.... are tanking. Selling despite 6%+ return & share in the future prospects of the3 company???
Why are the deb holders are selling? Because they do not see any future in this company even with a 6%+ coupon & 4-6 years to go for the debs.
People aren't chasing yield blindly anymore. There has to be more to the story & people are saying that there isn't more to ARN.
carlos