The market has turned bearish, doesn't matter what revenue it has given guidance and what the future will be, at this point it is overvalued and needs to correct itself to 2.5X.
folks who were investing earlier already knew California was going to go-live and now that hype is over, it will find it's new level of support around $3.50 to $4.00.
I don't think it will every go to $2.00, but you never know, one bad news or raid by the feds, and all this go back to 52 week lows...