Well, probably 3 things. First, the shorters took over once forward momentum stoppped. Second, after running hard for days, people were eager to take profits. Third, a lot of MM's were caught by suprise by the price surge and needed to cover, so relentlessly pushed the price down to scare up shares. The stock needed a pullback in any case.
This is all very bullish actually. The 60 minutes story this Sunday could be HUGE for SUGN. Mom and Pop investor is gonna be on the horn to buy some SUGN first thing Monday - lots and lots of market orders. Combine that with large short position and "now alert" MM's who have loaded up with shares, and we could see a monster run pre-market and into the first hour.
I would expect to see a few things tomorrow. The smart shorts will start covering at this price (they can re-short on Monday), and MM's will accumulate shares to sell Monday and cash in on the pop. Although MM's will want cheap shares (and will try to urge further price declines), I think the combination of short coverage and buyers for Monday's almost certain pop, could cause a another nice price rally back into the 22-24 range, probably late into the day. I'll go out on a limb and guess Monday's pre-market high at 26. Sellers into the open will probably not let it move much past that UNLESS we get additional news and a big Joe K mention.
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