There was no negative news to trigger this slide (I really doubt the management evaluation survey had any impact). The broader market was down, and has been for six days. Most of the other stocks that I watch have been down a couple of percent per day too. This is also a thinly traded stock, which usually means that good days are really good, and bad days are really bad.
On the other hand, going back to technicals - we broke our $5 support level yesterday, which usually causes things to go downhill quick until the next support level is found - hope we find it soon. I'm afraid $5 will be our new resistance level for a couple of weeks.
Unless you need the $ for something else, I wouldn't sell now. I see this as a long term investment. Looking at the fundamentals, there is no reason this stock should be so cheap. The only reason I can think of is the lack of analyst coverage / low volume. Once it gets in the news a little more, and more people start trading it, I don't see why it won't at least double. But it may take a year or two. If we have a good quarter, and stand out among all the other poor earnings reports, we might get some traction. That's my hope anyway!
That being said, I had the opportunity to pick up more at $4.78 this morning, but just didn't have the cojones to pull the trigger. But I DO need the money for something else right now...