The truth is nobody KNOWS why this sell-off happened. Just pure speculation on everyones part. There were more sellers than buyers today. Period. Big deal. If you are a long and believe in the company, today really has little relevance. Now if you are looking for a short term trade, than you hate it. At the moment, the company hasn't had anything to report. Many thought that news was forthcoming right after the annual meeting. It didn't happen. Who knows why? Business deals are complex. They take time to consummate. But if you are long and have faith in management, then today was another opportunity to increase your position.
I just wish I had more dry powder. If we all could predict days like this we all would be immensely wealthy. But we can't so we aren't.