This is a pure manipulation move for the broker to play financial wizard to his favorite few. By dropping the price down to take out as many stop and margin orders as possible the stock becomes a false bottom to play with. It's mean and down and dirty. If your on the inside it's the best way known to clean up. .
I liken this stock to a train waiting at a platform. Everyone knows that the train is going to leave at some point and arrive somewhere wonderful. A month ago, the train was packed with eager travelers. Now that the train has still not departed, some wonder, "Maybe I have time to step outside for a smoke." Others, seeing their fellow travellers stepping off the train, think "Maybe these people know that the train isn't leaving anytime soon; I think I'll go stretch my legs, too." When the train begins to move, some of these people will be left behind.