Watching the Level II, it looks to me like there is some manipulation to pull the price down. For the last 2 days, it appears to me that most of the "early day" trades are coming from BATS.
Specifically, I'm seeing 100 share offer on BATS a penny above the highest bid, followed shortly by a trade at the bid as the ask vanishes. I suspect someone with a nice chunk of shares wants to load up at a much lower price. (I've been wondering why anyone with $79 on the line would jump ship NOW.)
At this link enter XRM in the search box for the order book. This morning it looks like 100% of the trades are on/from BATS.