Although I partially agree...
... with you where you said "There is no reason for its shares to slump like this.", this is still a start-up because they are not fully established in an emerging market and because they haven't as of yet generated the income and become self sustaining financially as of yet. However, they will be.
It is not unknown, and in fact is common, for newer companies in emerging markets (heck, even in established markets) to take five years or longer to reach a stage where they are no longer considered start up's as it depends on the goals of the company as to how slowly or how fast that happens. BEHL has, as you pointed out in a previous post, set some attractive, and in my opinion, very aggressive goals. However, these are goals which are attainable and BEHL is taking steps to attain these goals by doing many things, one which you pointed out yourself also in a previous post you made where you pointed out they are hiring bright people.
There are many reasons for the share price to slump like this, most recently its the result of those who would have an agenda to drive the price lower as we all witnessed last week.
Several years ago I bought a stock in a start-up company that acted exactly like the stock for BEHL is acting now, in fact you could probably take a BEHL chart and overlay it on that companies stock at many points in the company history and think in a lot of cases they were identical. People said the same thing about them and the bashers showed up every day for a quick cash-n-dash meal. I kept buying and buying and buying, millions of shares. Today that stock is trading at $30.00/share (approximately - was last week, haven't checked today), it took almost 9 years for them. I've bought stock in several companies that were start-up's as early as late last year and some are turning a profit today, others will take longer, but in all cases they acted just like BEHL in their start-up stages while they were becoming established in the market. But all of those were in established markets, think of what its like to enter an emerging market (and I've got some of those too - that entered emerging markets, one is 5 years old and just in the last few months started becoming self-sustaining in profit.).
