This is a normal sell off for a stock that has more then doubled from it's low. I would not be surprised to see it hit $4.80 before it continues it rise to $10.00 plus.
Ewave pattern of 12345 from 3/4 (price low approx 2.50) to 5/7 (price high approx 6.5). The expected retracement is about 4, which is happen to be the high of wave 1 or the high of previous cycles back in mid Mar as the final c point of the wave abc.