That's a common misconception of most public market participants; that ERs somehow matter to the market price of the stock. The event matters because it draws public attention and the big boys can easily get them to buy or sell to benefit their own position.
How sad. All I will say Lou, is that your frame of reference, you paradigm of how the markets work is not real. This is going to $2. That is pretty much a guarantee. Whether it ever recovers to your wistful levels, I don't know and I don't care and I wouldn't wait around for it. I would offer to help you out but I think I know who you are; thick-headed and unable to see things from a different perspective. So good luck with your other endeavors.