Just look at an 18 month chart !!! you'll see 12 months worth of bag-holders between between $20-30 !!! The drop occurred so fast, A LOT of people holding the shares on margin are going to be selling part or all of their positions to meet margin calls.
There is a health 20% short interest back to April 13th so there should be a bit more dead cat bounce left. Then it's just crying time.