Another lesson learnt the hard way, equivicated about selling earlier but I think anchoring bias and not deep enough anlysis had me hodl on. I will pay a heavy price in this case. Company has been basically destroyed and it will be a long and hard road back from here. The only glimmer of hope is the wholesale business, everything else is fucked, bank covenants are a mediaeval tortue device! I cant see them being able to comply, so its almost certainly going to mean a dilutive CR at best and total annihilation at worst.
Before the trading halt they were around $2 - having watched them fall all the way from nearly $8 with an average cost of about $4.90.
I really have to get better at the sell side, this is about the 5th disaster like it, and more than half I was up by round 100% before the crash.
Time for some serious navel gazing. LEVERAGE is the enemy, I should have seen that.
