It appears the stock is now stuck in a trading band - 86-88c. It may take a bit to break it out of this band today, however I believe the buying support is here at this level.
CW is not SIG's only buyer and the announcement doesn't indicate that CW is cancelling all buying from SIG, just that they are intending to "shop around". I think the sell off is well over done and would expect a little bounce of these levels back into the 90s in the next few days. $1+ could be a challenge in the very near term though. (NB I bought at 88c earlier today)
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