It falls into category of "it's possible"--no one has any evidence to any bad news hidden in their earnings report. This is a lightly traded stock with a small float, in cases like that yes MMs will try to free up shares. Is this what happened? It's possible. I don't know the stock myself, but from TA angle if this were to close below 23.75 that would be a major worry. I see that those that bought a year and a day ago have at least 300% gain. That is highly tempting for those to take their profit at 15% capital gain tax level.