re: "Where are all those shares coming from. The only way they could get all those shares is if IBIO pints them. Why, who knows. "
No they're not. They're being "printed" by a high roller with market maker trading privileges. I would estimate, over 90%, anyway. A market maker can sell as many pseudo shares as he wants, "to provide liquidity" - which is why they get to do that. This is also called "naked shorting" - there are no actual shares being borrowed and sold. He only has to indicate that he knows where to get them (can you guess where). They have 14 days, according to the rules, otherwise, they get slapped ( lightly on the wrist, at least, historically) with a "failure to deliver". They still don't have to cover though.
A retail short position over $5 has to involve actual borrowed shares and you get charged interest, like on any loan, so there is a string incentive to cover at some point, but the high roller with mm power doesn't have the same constraints.
As a retail US investor, I'm not allowed to short stocks with a pps under $5, so, the ridiculously high volumes going down are not from retail. A typical agenda for the high roller/hedge fund (perhaps with loan shark cohorts) is to drive a small indebted company into bankruptcy, in which case, they never have to cover. Also possible, if the company is a target for hostile takeover, it is way to get to get a big discount on the share price ahead of time.
Another thing possibly indicated by ridiculously huge volumes is a "walk-down" wherein , basically, the left hand (of basically the same entity) sells to the right hand, then vice-versa, adjusting the pps as they go. With an occasional dump to hammer down a pesky bump here and there. It doesn't cost them any money, they've already got a bundle of cash from selling all the naked short shares going into the national crisis news generated public speculative interest peak.
The reason bashers appear is to destroy "good will" - which is an actual accounting entry based on public perception of future pps performance, or, in other words, to create a "good will impairment", the goal of the negative publicity. Retail generally can't stop the process, but they can muck up the operation a bit, which is why they are being attended to by the minion trolls, on the various message boards, while the naked shorting swamps out the remaining calculated retail volume.
If we're lucky, it may be that it may be a more simple form of manipulation and it will be allowed to run again at some point, which is possible, given that the company is likely to do very well in the upcoming climate of developing events.
