Well, a good part of the selling in this stock is guys with employee stock options. In other words, folks who didn't pay anything for their shares. So the tendency there is to sell a little lower than anyone else is selling, regardless of the absolute price. (Being an employee of company X makes it notoriously difficult to figure out what shares of X are really worth.)
Not to speak in riddles or anything, but as long as any real shareholder tries to move any shares, the employees will probably keep undercutting that price, however low it is.