Q1 isn't already understood by the market. The revenues aren't yet official and there is much more to a financial report than just revenues. The market is most likely waiting for the full picture as presented in the next ER.
The short interest is totally out of control, a good portion of which is probably naked shorting. I'm actually quite impressed the share price has been able to halfway hold the ground in the last couple of days. Today's drop has further been amplified by the entire market sliding down about 2%.