I suppose this is a "normal" pattern -- once the down-sweep gets going, like a stone rolling downhill, people panic and throw in their towels. But it does seem odd, somehow, that all of a sudden we're seeing a trading volume that is much much higher than usual, following a long string of trading days with relatively low volumes. Of course, with a company like Anika, it's always low volume because there are only a small number of shares outstanding to begin with. Ten or thirteen million, something like that, total number of shares. And most of those are held institutionally (mutual funds). So either a fund is dumping (quite possible) or else the same shares get traded over and over again on a single day (equally quite possible).
Yes, yes, I know -- market manipulation can only be done easily with small-float companies like this one. Sure feels like market manipulation right now but only time will tell.