$Progenity, Inc.(PROG)$Market makers sold calls against their shares as a way to recoup some of their initial investment. They are also shorting the stock. There are ten of thousands of contracts that are or could go in the money. They can't afford to lose the shares and lose 51% of their ownership. In fact, they're so desperate, they have sold so many shares chopping this down that the calls are no longer covered. They have lost controlof the price and the risks has become too high. They have to pull the emergency break now. Just my 2 cents, I am not a financial advisor and this isn't financial advise
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