"I would see a real 'PANIC' if someone like BlackRock decided to liquidate 1 million shares via the normal trading means."
Fish you got that right so let's hope that never happens !! If we can go down a buck or so on only 70-80 thousand shares, would not be good for one of the big boys giving up on us!!
Fish, they will try to find a counter party to take it all or most of their position. If they can not achieve that and they have a little time then options. Sell calls, buy puts. If you can remember that was happening last December where there was a buy and sell of 1000 contracts.