"I have no reason to believe that there was illegal activity or fraud by the management"

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Agree 100%.

Only complete morons would accuse managment of that.

But what they did was to lose control of their accounts receivable, and apparently not scrutinize their clients for the ability to pay. The money was coming in so fast that it seems they just couldn't keep up.

 

Only problem now is that the "analysts" are starting to turn on them. I just saw a new one where they pretty much throw up their hands in disgust, saying the dividend will probably be cut in half, or more. I'd like to copy and paste it, but it was sent 'confidential'.

So the same "analysts" who were talking $20 target prices are now reluctant to give any price. No wonder I hold them in such contempt. But many people listen to them, and it isn't going to help.

 

So, there is lots of uncertainty ahead, and the shorters have all month to play with the share price before another dividend is due. If there is any more trouble with the accounts receivable, there is little doubt that the dividend may have to be cut.

 

Long term, $4 should be an ok buy. But make sure you have a thick skin.