Most people invested in stocks like BDA are just very short term...

Most people invested in stocks like BDA are just very short term speculators in to make 10% on their money and get out. Given the recent price slumping they sold immediately on good news figuring this is the highest it will go until the next announcement. Even as the price fades, they still sell as the same principle applies; in their mind it won't go higher. It becomes a mini rout.

Most short term traders lose money. It's their outlook that crimps them. They see everything as a zero sum game. Snatch and grab. They see people who invest for value as suckers and they panic quickly when things go south.