Problem with that theory is people who have been in since .003 needed to sell just 5% of their stash to have free shares today. I'd imagine anyone who bought 3M shares in Sept has no more than 1M left today UNLESS they really believe in the company.
Selling one's entire stake BEFORE efficacy results are released seems like a silly move after holding for months.
Me, I sold 20K around $2.75 and now the balance of my shares are all FREE.
I've never said there was anything wrong with taking profits. Always lock in some profits. For me, yes, I know I likely left a lot of money on the table; but my stress level has dropped drastically. Swings mean nothing to me since my remaining shares cost me $0.00.