People disappointed because Kay could not say anything about the lawsuits. We knew that
But no reverse split for the long term, he said not needed and since I like to speculate. Not needed because they will get a buyout offer soon. IMO of course
It looks like it all started with a poorly presented video blog yesterday by the CEO. People read a lot of negativity into it. Then panic selling/herd mentality followed. Listen to the video and judge for yourself.