IMO, it is not just retail. There is a lot of low volume manipulation going on right now (and essentially since the beginning of the year). Because of the recent dilution, investor confidence has been lowered, and shorts or groups (and likely note holders) are taking advantage of it. After an issuance of shares, they are able to drive the pps down lower on low volume, and then they load of cheaper (or the shorts don't need to cover).
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