This is Dilution. DILUTION DUMPS SHARES. They don't care where the price is cause they get them so cheap to begin with. They don't hold and wait for the price to rally. They just sell and move on. Short selling is more methodical and precise. This is clearly Dilution. Which is why you are seeing heavy buying as well. The dilution will stop and institutions and MM's will take this back up. I think we are stuck in a churn range between .03 and .12 Here is a rule of thumb to live by.
MM's Will NOT LOSE MONEY. IF THEY HAVE TO CREATE A MARKET AND SELL SHARES ON THE WAY UP THEY WILL but know they will KNOCK DOWN THE PRICE TO COVER AND THEN TAKE IT BACK UP. THAT IS HOW THE GAME IS PLAYED. YOU HAVE TO BE ABLE TO WEATHER THE STORM AND PRAY YOU DO NOT GET CAUGHT ON THE WRONG SIDE.