The reason for that is people are selling low to ensure their shares get picked up. They would choose to do this because that is the best way to ensure it gets picked up because there isn't enough volume to guarantee it will get picked up if they don't dump into the bid.
Attention on this stock has died down hard. Even if the float is entirely locked, it won't move without a substantial increase in volume. It needs to be doing 50-100m a day instead of 1-2 million
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