Stock gaps need not fill, and many times when they do take quarters if not years to go back to fill in the hole - on the other hand gaps on indexes more or less always fill (with a few historical exceptions) and do so usually in short order (months).
Research in Motion (RIMM) reported an ok quarter but the stock was weak ahead of the figure (below all key moving figures) and is being sand blasted today. It has broken 2009 lows and now working on filling an earnings gap up from April 2009. Despite the competitive threats from Apple (AAPL) and Android, one would think with $5 of earnings power value managers would finally begin sniffing around this former high grower.
The problem is, that was the thought process with Nokia (NOK) as well - that did not work out too well.
Let me tell you - not -5 years ago Nokia was the clear king of the hill in mobile; truly a historic fall from grace in what was once the safest amongst 'tech' stocks. (Nokia is pushing towards March 2009 lows! Double bottom?)
I am actually quite disappointed with the technology push at RIMM; they seem to have sat on their laurels - it is one thing to be face planted via Apple; they do that to everyone. But to have Google come up with Android and not even match that... quite unacceptable.