Welcome to the wild-and-wooly world of stock investing.
An aggressive seller entered the market yesterday due to the uncertainty of the convertible bond offering. At the time yesterday, there was genuine uncertainty in JAG because the terms of the deal were not announced. Now, that uncertainty is gone when the terms were announced after the close. But the big seller is still in the stock, and he put on a very large short position on the stock yesterday. This seller has very deep pockets and can push the stock around. Today, he is trying to sow seeds of doubt and fear into the stock to try an induce people to sell even more so that he can cover his position at a lower price. People like you are saying, "what the hell is going on?? Gold is over $1,000 and terms of the convertible are great but JAG is down!? WTF!?" Patience, grasshoper.
Warren Buffet said it very well; in the short run the stock market is a voting machine. In the long run it is a weighing machine.
This deep-pocketed short seller has lots of "ballots" to cast in the short term. But in the long term other people will notice that JAG is not weighted properly. This may take time.