Value pre-announcement $6.05 (probably already factoring in a loss via insider trading, high was nearly $9).
Fair value might be $6.00 - 0.65 = $5.40
If 6.05 was a fair pre-announcement price than $5.4 would be an upper bound as there is increased risk due to (i) lower cash reserves/risk of recap and (ii) manager risk as they have demonstrated that they cannot write contracts properly. Ooops.
DOW Price at posting:
$4.01 Sentiment: LT Buy Disclosure: Held