Or every time the price drops, fund managers see more relative value. The price is becoming more and more attractive every day.Eventually once the likes of TRP and Fidelity and all these folks are out, this will leave only the most committed people, who are basically ok with going down with the ship in the worst case and/or have a truly long-term view of their holdings, like 2025 or longer. I don't know exactly where that point is in either time or stock price but at some point just investor selection will dampen the volatility. The one caveat is that Bailey Gifford or Capitol Group may start selling, even committed money managers can be forced to exit by management if they think the fund family reputation will be crushed by something. If that were to happen I think low $100s could happen before earnings. If earnings is not strong forget everything I said, then I have no idea what could happen.
The problem is that you an embedded implication that the company is near worthless in the short term - which i disagree with.