It just makes no financial sense for PML holders to have waited...

It just makes no financial sense for PML holders to have waited until now to sell when the writing has been on the wall for awhile now that we are in a downtrend. Even the most basic charting skills could see this. If you weren't in it for the long run of seeing what VRI can achieve, then surely take profits well above this level!

To me this seems like scared VRI holders who have been holding on hoping for concrete news, and the last two announcements and the consequent sell off has been the final straw and they are trying to protect what capital they have left. Many people panic when there is such a quick sell down. Possibly rightly so, but I have seen this sort of thing before where stocks can bounce back too so only time will tell.

I only have a small investment here and am willing to stick it out with the knowledge I could lose most of it if things don't turn around, but that is a decision each individual needs to make.