I agree with you. What disturbs me most (and it has been touched upon by some earlier posts) is that there was absolutely nothing in their 2nd qtr guideance (issued in mid Aug) that would give an investor any clue that this was going to happen in the 3rd qtr nor do I recall anything from the 2nd qtr conference call. So what are we left to conclude from that?
1. They knew it was going to be weak but didn't disclose it, or
2. The events that took place to cause the weaker quarter came to light after mid-August
Naturally, I hope it is door number 2 because then we can put some trust in their confidence re qtr 4. I have a call into the CFO for his answer to that question. Full disclosure - got out at $7.50 (took a 20% hit) and looking to get back in but would like to hear what the CFO has to say before doing so.