Why the sell-off today? High volume day and down $1.24...more sellers than buyers...all I can figure is they are temporarily selling the news of the S and P listing. Should level off and come back?! An insider sold some stock, but he still owns 13,000,000 shares. People sell to raise money as it is a large part of how they get paid - it is utter stupidity to sell-off just because an insider sells some stock. He may be buying something or just further diversifying. He is receiving a lot more stock later next year.
The reason that stock couldn't stay over $50 was due to heavy selling from beneficial owner KKR and BUCK, they sold more than 2 million shares per day on Nov 26 and Nov 27. Not sure why they were in a rush to sell, was that the requirements for joining S&P 500(S&P 500 requires more than 50% public holding)