I agree. Everything about the price action lately makes sense to me. Even the dip down to post-offering new lows today @$3.18. We just found out that the offering is closed and the shares are on the way so some of those who subscribed but have yet to fully sell short in anticipation of receiving shares are hitting the market today with sell orders.

That big jump in shorts reported in another thread? Almost certainly savvy traders that have subscribed and will cover with the unit shares. What they will do with the warrants, I do not know. Perhaps they will sell those at bargain prices and walk away with cash proceeds in excess of $4 per unit. It might make sense to bid cheap for some warrants (don't cross the spread!).

I don't know precisely when, but at some point before top line this technical depression should be behind us and the stock should trend higher to new highs.