A few reasons. On the emotional level, I think ALL is regarded –...

A few reasons. On the emotional level, I think ALL is regarded – wrongly – as a tech stock and is being caught up in the negativity toward that sector. Shorters are cashing in on the sense of panic.  On the rational level:

(1) the level of debt they're carrying

(2) the slowdown of new casino openings

(3) I'm sure ALL has a long runway for growth in the digital space, but at the moment they are minnows competing against well-entrenched whales. 

(4) ALL borrows in USD, so rises in US interest rate contribute to the debt level. Yes, offsetting that is the high exposure to the US market. 

In the current climate of extreme volatility, I think potential investors will take a "wait and see" approach rather than just trusting the projections of analysts and past history of growth. Personally, I would give the same weight to the opinion of a tarot card reader. 

Having only recently bought in, I have no interest in talking this stock down. But if I was able to sell now without realising a large loss, I would.