Pending any further info, it does seem the stock drop is unwarranted.

Sheldon apparently sold some shares before he joins the board and joins the blackout. People saw this and panicked. He has well over 10 million shares, plus pinetree's holdings. He apparently sold less than 5% of his personal holdings. He's involved with numerous companies and investments, might have saw a small opportunity somewhere and decided to move a small personal holding over to that (or any other number of normal reasons). To me it says something that over 95% of his personal holding in PTK and all of his Pinetree holdings are still intact.

This drop seems to have been a HUGE overreaction. There is absolutely no other reason for the drop today (that I can see) besides that. A correction should follow pending any other legitimate reason.