I have always invested, in companies for the story, that determined managers can take a business opportunity and make it grow, and if it fails after all their efforts then, well I can accept that, and learn from it.
It seems that these guys, have created a hole for any long term holder who had any hope/ faith in the longer term value of their assets.
Those who bought in to make a profit on the buy back, will not resist , and eventually sell out. Even if the price gets up a bit the big holders can simply sell some and drive the thing down.
our friends Fear and Greed are working wonderfully against us this time. Not for me to say it was engineered, just picked a dud this time.
ITD Price at posting:
9.5¢ Sentiment: None Disclosure: Held