There's no 'games' as such. Just a lot of short term reasons to...

There's no 'games' as such. Just a lot of short term reasons to sell and not many short term reasons to buy.

Leads to snowballing selling pressure with no increase in buying intensity.

As the price drops a bit, the selling pressure grows (more people start selling out due to fear or stop loss), until it hits exhaustion (where the people willing to sell have all left) and at this stage more and more buyers take the chance to buy at a low price.

The whole market is down 20 or so percent and Alexium (a company that has 15 bagged from its bottom to its top) is showing signs that it will take at least another 6-18months to make meaningful revenue, so it gets caught up in the general market fear.

If alexium is as good as we think, once it starts proving its revenue, the fear will drop and a new set of investors will start appearing (those that wish to see balance sheet movement prior to investing). Both of these factors will increase buying pressure and decrease selling pressure. If this is coupled with less fear in the wider market, we will see explosive increases in price.

If we're wrong about alexium and it can't grow meaningful revenue, then it will get punished extremely hard. So lets hope we've got our Fundamental analysis right.