Just remember one other thing guys. The placement shares cant actually trade until the 20th October. Also i dont believe one can short the stock, but I may be wrong about that as wellbut if you can short it the margin is very very steep. It means there is a lot of pent up selling of the stock to come once the deal is approved. I think there are 0.8m shares that can trade now but another 2.6bn that can trade once the 20 oct comes around. So in a sense we have an artificial market for now as the only ones who can trade are those that are already under water and hence reluctant to sell down. That is why the price is holding up so well. I suspect is goes under 20c when we get closer to deal approval.
ELD Price at posting:
$2.50 Sentiment: Sell Disclosure: Held
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