Like always, the drop is due to more selling than buying.
You will most likely find that recently departed directors are the sellers. This avalanche of selling started with the exit of Mike Thomas, then Stewart Washer and now is continuing with Jerry & maybe Ross. The sooner they get sorted out, the quicker the share price will bounce back.
The way these past officers have sold out of their position immediately upon departure is indicative of dissatisfaction in the way of their dismissal. Defies logic ! The big players knows how much stock will most likely hit the market & are therefore letting the stock fall to take these parcels out at lower levels. Why pay them a penny more than they deserve,
Bruce M calls the shots in most companies he is involved in. If you don't agree with him then you can move on. That looks like what has been happening over the last few months. Most of the office holders NOW are Bruce's people. The big test is starting now, how will Bruce & this new board perform ?
Once all this garbage is sorted out, we should see a strong rally. It might still take a couple days of pain until the recovery commences. We will all see the signs in the market when this selling is completed. We should get a one day reversal in one of the forthcoming days.
Not stuff for the light hearted but the believers will hopefully be rewarded.
ISN Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held