I know he is not a stupid man.

I think you hit the nail... right on the head though. The timing and uncertainty was making it a risk in the way he sees things. He's paid by people to be objective. I think it was time for him to remove a recommendation that was not panning out in the timeframe he was originally considering. Right or wrong... he did what he thought was best for his general cliental. As anybody in his capacity and with his reputation would and should do.

As far as some institutions... it is my understanding they have certain rules that restrict them from holding shares whose value is below a preset level. Others with certain risk factors.