Wait until the dust settles. You have no idea why Bachall resigned or was pushed out. When there is no reason in the PR, the Street reads this as something bad or fishy took place under Bachall. More skeletons in the closet is distinct possibility.
Sure looks like it right now...but my guess is that this will stabilize very quickly.
Announcement of a new CEO will probably bring on a very nice pop....you can rest assured that the new CEO is going to be top caliber...the big players will scrutinize the choice closely.