It dipped far below $2 just a few weeks ago, after soaring over $3... it can happen, and it will if the MMs want it to.
I've noticed that when a stock has no reason to tank, but it does, it's often a manipulation by market makers to squeeze nervous shareholders to panic sell. It often explodes shortly after.
If it tanks below $2, while outlook is still positive, it means something really good is about to happen and the MMs want to load up... buy like crazy if that happens!