my guess is the trades are basically just algos short selling the stock to each other ...the high volume and the downward pressure isn't because of people exiting positions, it's because of algos borrowing large quantities of the stock and selling it and then buying back and repeating the cycle for profits each time.
the way that the stock has moved either there is massive leakage of insider information and the stock is going to zero or this stock is in the grips of some of the worst market manipulation in a long time.
there is no rational for this. (again, the caveat being that there might be news that is tanking this puppy - i am getting creamed along with everyone else. the carnage is BRUTAL)