It doesn't look like dilution and here's why:
Usually, a company that wants to dilute would dilute en masse. Why is everyone being shaken up by a 500k sell at the bid? When the company paid off its debt via stock, it dumped shares by the millions - MILLIONS, not thousands. Additionally, most of that action took place in the late afternoon, right before close. This doesn't add up with anything we've seen up to this point, so it's not dilution IMO. Here's my theory:
Someone finally snapped and wanted out of their position. It looks more like someone wanted to throw the huge bid up to trap large blocks - which they could then flip at the ask. This could be for a couple reasons - they want the stock to remain low while they load before news OR they just don't know how to trade. Either way, we're in a good spot.
The MMs are trying to take advantage of perceived weakness and are trying to drop the bottom out of this stock. There's been no status change in this stock (no news), so why has anything changed?
