It appears the carnage (probably too strong a word) has stopped, or they've gone to lunch.
I guess they weren't aware of the options deal, and bailed out before (in their minds) others did. None of us liked the options deal, but if we make money out of this stock in the end, it shouldn't matter that the "sophisticated investors" make more.
It doesn't stop me be cranky though, but not cranky enough to sell at these low prices.