Personally I would not label it as panic selling, but I know what you mean. I think selling is due to frustration, disappointed, boredom, and maybe some think fins won't been filed for a while and are exploiting the situation.

I would have flipped also if I thought fins was going to be weeks away and the company was going silent. Maybe I missed that email? Anyways I wouldn't touch my shares now. But I am pissed that we have no clue when to expect fins. The lack of a shareholder update when they knew it was going to be a while has made me rethink my position here.