I am long NEA, and not a day trader. My belief is the price ran...

I am long NEA, and not a day trader. My belief is the price ran way past fair value and is now pulling back because the fundamentals simply aren't there to support 50+c/share.

The only facts we have are that ~3m options were converted at 7.5c/share recently, and obviously some people have been buying all the way up to the recent 68c peak.

My interpretation is that some of the employees and/or directors would have sold some of their converted options and that caused some of the drop. The rest of it is jitteriness of the speculative punters who suddenly found themselves down 20-25% and went "oh shit".