this is i believe what they call a bear raid. check out the massive dumps of 70k+ on the bid. Looks way over done honestly but could retrace some more before heading back up if the company doesn't execute some share buying. just your wealth destroying side of the market at work here nothing to see.
I actually work for this company. They are focused on increasing margin and building shareholder value. Is undervalued vs other companies in the sector and that's why they felt they would go forward with a buyback program.