Shares were smoked for decline of 20.5% on 'unusual volume' of 3.1 million shares, nearly 10 times the average daily volume.
According to the 9 previous occurrences of this event, AOI has shown a very strong bearish edge that peaks 39 trading days after the event. Thus, the projected date for the peak of the bearish edge relative to the current event date (Tuesday, 16 June 2009) is Tuesday, 11 August 2009. AOI declines in 89% of the cases (8 of 9) by an average of -18.8% relative to the close on the event date. The average of the 1 rally is 0.9%. The overall return of the 9 cases is -16.6%, which, based on the close of AOI on the event date ($3.92), provides a target price of $3.27.