Alot of retail have been buying shares at .0001, they're looking at it as a "lotto" play - nothing more. I also know a lot longs have been accumulating - especially when we got to these .0001 & .0002 levels (emphasis on .0001s). I sort of have been guesstimating how many shares we [as a group] hold as times passes. I don't know how many shares are out there, much less the float, but I'm leaning towards 5.5B - 5.8Bil-ish OS. And I don't think I'm far off guessing we hold around 1B shares (maybe more?)!
But, you're right - someone else is accumulating. I have never seen such dilution in such a short time .. prolific! That one day, over 1B shares were sold/dumped -- but people picked them up. Some are retail, some long term investors, but who else would buy such large blocks?
After what we experienced this week, this should be having less interest and consequently, less volume. But no, even today over 285mil bought today and over 170mil in EOD t-trades.
I understand this damaged PPS level due to the dilution, I don't understand this consistent buying of a stock - that from the outside - looks like a mess. You may be right, something else may be afoot?
Time will tell I guess.
