The reason why the market has marked down the price? That's...

The reason why the market has marked down the price? That's pretty simple to answer : the market has marked the price down because the price has gone down. It is very noticeable that brokers/analysts' buy ratings are put on shares that have already gone up (sell simly). So when the price falls, the experts get less confident in the company. Non-experts, on balance, follow. Contrarians are very much a minority, and can't influence the market. Then there are those who won't "catch a falling knife", and those who like to see a share price going up before they buy. Everything combines to virtually ensure that a falling price won't turn in a major way until an event removes uncertainty. Add in that shorters are no better at picking a direction change than anyone else, and that they can and do (it seems) manipulate prices in the direction they desire, and it seems pretty obvious that the price won't turn up until the ASIC report is about to be issued, or some other such uncertainty-clearing event.