It always amuses me when large companies do tiny offerings and get whacked by many multiples of the offering. Where was PVG when the $20 million offering was announced? $11.96. Jan 24th. It was over $13.50 to start the year.
The market cap has been chopped by over $200 million since January 24th.
Maybe we should blame the drop in the price of gold.
Gold was $1658 on Nov 24th. Today it is $1644. Not 20% lower. Not 20 dollars lower.
This should be a very nice bounce when it happens. Does it bottom today or tomorrow or Friday?