idiotmathematician - PSN was much, much more risky at $13/share than it is at $3.50/share. I didn't buy at $13/share because I could see it was priced not just for perfection, but for accelerating growth Q over Q. I knew that a miss would drive the stock down to more reasonable levels, and that would be the time to get in. Then on top of that PSN announced it was writing off $9.5M worth of nonpayments. I didn't anticpate that, but I'm also not surprised in a hypergrowth company that some errors were made. After those two revelations the stock was derisked. I didn't expect it to drop to $3.50/share.
So growth has slowed down. We are not sure what the new growth rate will be. It will not be negative, just not hypergrowth. The accounts receivable error is behind us. It will not be made again. The big shorts have made their money. They are done and covering.
PSN wasn't worth $13/share. PSN is worth more than $3.50/share. Anyone who buys at these low prices will be happy a year from now. Revenue can probably support the high dividend. PSN will work very hard to keep that dividend. It will be instrumental at driving the share price back up.
If you paid $13/share my sympathies are with you. If not, now is a real opportunity.