The day they announced the IBM thing the stock traded up to $3.30 in pre-market. They followed that PR with a pre-announcement on Q2 and the earnings were about right but the revenues were light about $1.5 million. Had the revenues been in line and the eps been the same the stock would have traded over $4 that day easily. But that was not the case. So they were short one simple-minded analysts numbers one quarter and since that day the value of the company has drop nearly $25 million....because they were short $1.5 in revenues and essentially made as much money as they would have in either case. That's classic over-reaction.
Now factor in that the stock has fallen on about 1/3 average daily volume.