But limited facts, from an apparent small time frame you have observed from.
CDEL is the service provider that some individual/entity, that has been manipulating the stock for some time now, uses. They aren't getting out; they are positioning for their next manipulation. Things have been too easy for them to walk away now.
I'm not sure who/what out there is trading through VFIN, but it could be the same scenario.
Still, to support your point of view, it appears some recent exercized options are being sold off. MAXD, based on their 10-K filings, purchased many services in exchange for shares, and obtained several loans/investments with options for share repayment. As many of the recipients of these shares have no long interest with the company, they could be liquidating their shares. How much of this type of sell off occurs is an issue, but I don't know how it can be quantified by anyone outside the company.