My thoughts are shareholders are being shaken out of this stock by the sophisticated investors. The financing closed in a couple of hours because it was so cheap. These types often have a short time horizon on their investment. So with that view it makes absolutely no sense for them to sell the shares at this price right now at a loss. Unless they know that they can make money on the warrants soon. But ultimately even that does not make sense if they believe the warrants will be in the money soon.
If they share Suresh’s view they would want to add to their position ultimately and get it at the cheapest possible price.
So ether way you slice it in my opinion retail investors are being shaken out.
The financing closed in a couple of hours because the demand was so high.
