My recollection may be hazy, but wasn’t most of that drop in value due to investors freaking out that this guy self-evidently had no plan at all and tried to ge

My recollection may be hazy, but wasn’t most of that drop in value due to investors freaking out that this guy self-evidently had no plan at all and tried to get out of it (and shit-talking it all the way) before his purchase was enforced?