Not saying anything about why people dumped their shares. But I am saying that many people decide to dump their shares because they are not sure where the price will bottom out. Once they see the price has found a bottom, they might be inclined to re-invest. For those who sold at .8, buying in tomorrow at .3 will more than double their number of shares and with negotiations taking place and financing avenues being explored, any news on these, which I'm guessing will come fairly soon as I assume PGRX desires to stay on the NASDAQ and thus will need to bump back above $1.00/share fairly soon, will be a very great reason for sideline investors to jump in.
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