Sentiment is so bad, the core dividend investor base defeated, growth investors not interested, long time bullish analysts' surprised, Temasek sell, Sunit gone, Longleaf 13D, business model uncertain, reputation of company beyond horrible, momentum negative, perceived peers bk, general market overvalued. This stock screams sell so loud its deafening. Does that mean buy? I don't know.
The other issue is falling below $10. Many studies were posted back in 2001 showing how stocks that fell below $10 never recovered. Level 3 is an example. From that time period, of the stocks I followed, the only one that did was Cisco, and it was under 10 for a very short time.
I've forever given the benefit of the doubt to reasonable bullish interpretations of this company whether it be from executives, analysts, or other investors. My own research was often equivocal but I would chalk that up to my lack of understanding of the industry. Obviously, in hindsight, like Buffett, many do not understand the true dynamics of this sector despite rigorous, time consuming study. The future is clearly uncertain for CTL and poitier is likely correct that the path of least resistance for the stock is down. Right now it feels foolish to keep holding but it also feels foolish to have held for the past 12 points. Unless the company is broken beyond repair, I have to think the worst is behind us but have no clue whether thats the case or not.