We have seen that with Lightnings and SRT-10 Rams at the track.
The guy gets too loose, chops the throttle sharply (or hits the brakes), and it comes around on you.
Should this happen to you, keep throttle on at least 1/2 way and drive out of it. Pushing in the clutch is OK as well. Once the tires have traction again, then you can hit the brakes gently, or chop the throttle. What happens is that when the back tires are spinning, there is not much traction back there. Should you suddenly transfer weight to the front axle, the ass end comes around on you. Brakes or compression braking both pull weight off the rear, and transfer it up front.