This is cute.
Do you know how share conversions work?
When company “dumps” stock it is first sold to a dealer broker; these shares never go to open market. Why? Because there is a discount; on open market, nobody will sell them these shares at this discount.
Anyways, the dealer broker then stores these shares in a DTC treasury, which they can issue, sell, to float, that’s an open market sale that lowers stocks liquidity and price.
So in other words, a market maker may easily hold up to 9.99% of OS at any given of time in DTC treasury; that’s 71.5 million shares at today’s numbers, which they can sell at open market