10 million shares were distributed on August 28th. Aruda registered 8 million so likely the other 2 million went to the lawyers for legal fees. A six month waiting period would have ended around March 1st. I would expect the lawyers to sell at least half no matter how strong the science just to hedge their bet/pay taxes/make payroll etc. Me personally I would expect Aruda to sell a minimum of 4 million share for taxes/ lifestyle upgrade/diversification etc. They seem to be rather disciplined so far. My math math makes a total trade volume of 1.4 million per week or 14 million shares traded since theirs became unrestricted. If they accounted for 50% of the volume they would be done selling.
Please feel free to correct my math or time frames as I am working from a phone.
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