Typical ...Sell on news crowd, with flippers and chippers selling into a high open that soon started fading.
The conference call was fine, and in fact gave very good guidance. The deal to exit Michael Annechino was expensive, yes. But really it's immaterial to the company and it's future prospects at this point. Time to focus on the forward momentum.
Keep in mind that the company gave very good guidance, and the shares have been trading rather cheaply, so there's been lots of opportunity for short term money to move into position. That is now exiting, as by nature it is short term. It's in for a move that's been well telegraphed, and never meant to stick. That money needs to be replaced by new longer term dollars. This is now happening.