You can rest assured the MM's aren't averaging down. My opinion of the last couple of trading sessions are this. There is a large seller which has paid for broker support to move their paper. They are doing a very good job of unloading a ton of shares without completely destroying the share price. They will throw out small amounts of bid support through several different brokers to entice retail to buy at the ask. They will continue to walk it up as buying pressure increases, but as soon as someone else sells on the bid it completely knocks out all their small support...down to the actual real support. Then they will repeat the process with fake bid support until someone knocks it out from under them again.
The company needs capital for operations, and the only access is through dilution. Don't take this post as bashing the stock, because the seller could always dump the entire load on shareholders heads, but has chosen to use support. They make more money, and the stock doesn't completely implode this way. Hopefully the good news will be they will finish soon, and the stock can begin to move up again. Good luck to all.
