People are panicky, but we have to admit that this is a very uncertain time in mining game. There are numerous well funded competitors and lots of hashrate coming online seemingly every day. At the very least, someone could rationally conclude that AM's margins have to fall.

There's no question in my mind that AM is still the least risky bet out there, but I find it difficult to predict much of anything in this shifting market, and the lack of solid information makes it that much harder.