Re: The "Big" newse re morning pop :)
After stating during the last cc: "we are in a very strong financial position going forward," this additional raise certainly stinks of collusion with the powerful (and greedy) hedge funds. As an optimist, I guess the only way to see this glass as half full is.....
Last fall, on the heels of good data, the stock was at $6.75. After the close that day, they announced an offering at $4 which cratered the stock back into the $2's. Without question, that was a disaster.....and left a lasting black eye on management.
This offering seemed a bit different. Although it wasn't necessary, they offered only 5M shares (which could have been more, but the reduced number smells like an inside job as opposed to needing to raise money) at $6.25. The volume today was over 4M (8x normal), and all shares traded at or above the offering price. Hopefully, whoever the beneficiaries of this offering were, they have agreed to support the stock going forward.
Just trying to stay optimistic during these stressful times. GLTA
PS....I'm late for happy hour with my wife and daughter (there is currently a DUI checkpoint set up at the intersection of the hallway and living room in our house) Cheers!!