I believe its a combination of both the shares hitting us from 5-9 and they also likely shorted against that 240 million share position or MM's shorted against that- I don't believe shorting is nearly as often as some suggest but I believe deeper pockets and Funds short against opportunities like that when they see on Level 3 240 million coming at ya..
That would mean the downtrend is just MMss shorting
99.99% percent sure Five Nine Group sold their shares into the market- they weren't a longer-term player like the other two funds
The good news is I believe they are gone and those shares aren't new share issuance's their shares have already been accounted for in the total share counts.
So Flux will be offsetting future share issuance's and they basically bleed out all of the ugly shares and they have the float on lock down now.
It makes no sense for Flux to sell anywhere close to these ranges.
I think now its its a race between the Funds network of people buying down here and retail picking them up at these absurd levels- The funds network of investors may have to wait for material events to come out first so the window on this cheap stuff should come to and end now.