Anavex Life Sciences Corp (AVXL)

[wildcard235]

Don't expect the market to be rational, it is the aggregate of countless individual decisions. Many decisions are sometimes based on the same news and expectations, but that can be deceptive, and investors/institutions may buy or sell the same, but for different reasons.

For a possibly relevant example, in a strong down market many investors, including institutions, may get squeezed and have to free up cash and reduce their exposure. Options are one tool for medium-term risks, but selling may be required for a squeeze. Other institutions may try to leverage the situation to try to sharply drive down a stock price so they can accumulate it on the way back up.

There's no way to be sure how much of a trend is driven by which reasons, so people guess about what the dominant reason(s) might be.