Man then you got a lot to learn about this company and how to trade then. About the only thing you said that was even close to being correct was that you bought 70k shares tonight. The whole reason this dropped to the .40s was due to this news hitting AH, and the fundamentals of how after hours trading works. It's very thin, less market makers, less trading, so it's far easier to drive the price way down when a sudden rush of volume comes in much like what happens when negative news comes out, like what we had here today.
If this news came out during normal trading hours, this might have dipped to the 1.50s before closing closer to the $2 mark. But since it came out after hours, a few big sells was all it took to drive the pps down enough to start triggering stop losses and create a snowball effect which caused the pps to drop to these crazy prices.
Nothing more. This price decline to the .40s wasn't due to people "selling" the news, it had everything to do with the fact it came out AH and not many people where even watching what was going on. So much buying support would have came in during the regular trading day that this would have never taken place, a sell off would have happened, and the price would have dropped, but it would have been around the %20 to %30 percent mark at worst.
