There's a complete "risk off" sentiment in the market, especially since Omicron variant news hit over Thanksgiving. The CNN Fear / Greed sentiment indicator has plunged steeply, just like in late Feb-March 2020.
It will be very difficult for any smallcap and microcap stocks to keep from sliding down in this market til sentiment turns.
Which could be any day, especially if Omicron turns out to be a fast spreader but less deathly / less severe. It would rapidly replace Delta in the world populations and people would be safer. That's best-case scenario.