My mostly uninformed opinion is that smart money smells blood around the corner and wants to cash out before it gets bad. Mass retail store closures, layoffs, IPOs, ...
Even if true, this will largely not affect a business like this. They make small money on each company and scale through the shear number of total companies that pay a few thousand dollars a month to use this service. People are not going to stop going on call because their revenue dropped 20%...
The market is still hot. You don't want to go IPO at say $50 and no trades. When the market crash everything will crash along with it. Some investors are probably very eager to cash out now than later.