BZMD mandatory convertable stock just converted. Could be that the holders of the convertible are dumping their shares. I know because I'm a holder of BZMD. I bought it to pay me a yield while the housing stocks recovered. Since it converted, I no longer get the yield so I'll be looking for an exit point as well. However, my planned exit point is around $30.00 per share not $20.00.
I do not know the total number of common shares that were converted because of BZMD but Investors like me will contribute to downward pressure on the stock for a while.