what if s&p200 index goes below 3600 again

The question came to mind when I looked at the monthly chart of SSN vs. XJO between 2008 and now. The prices and trends were similar at time between now and then. I know the ingredients (what the company owns) are very different between now and then. But would like other people opinion on two conflicting thoughts below:

assumption is XJO is going down below 3600 (no particular reason to choose 3600, but just for argument sake).

1, SSN is going to have a few busy months ahead of us and we may get some announcement soon. This should support the SP to some degree. Are any of the planned activities going to be affected by another potential down turn?

2, people often flee to safer assets during crisis time. I guess SSN to a certain degree would still be considered as spec stock.

What do people think about the growth potential (or you call the de-risk of acerages) vs. risk aversion in general? Which is going to win in the case of ? Is ssn likely to go down the hill (i.e. back to <4c) again if XJO really gets below 3600?

I'm not down ramping here but hope to spur some discussion.