"it opened at 2.50 as bids were low balled and ask wet there pants and sold...it's called panic selling"

Possible but I don't agree.  I think it was set up through cross trading or just dumping to bring it down.  Who would let it go after the run up and the decidedly decent news.  Nothing to be affraid about here.  Not much of a panic given its rally back very quickly.  I do believe it killed the momentum though and spooked a lot of people  possibly bringing back some day traders explaining the volatility perhaps.