Price is declining because shares for sale outnumber those being purchased
I believe there is significant profit-taking underway combined with year-end selling, combined with a belief that the markets in general are greatly over-heated.
More specifically there are folks who have analyzed the only two concrete developments, 1) the election by BAT not to exercise the option and 2) the Company's raising of 50M in new operating funds, and the conclusions reached by some of these folks is that based on these two concrete developments it is presently more prudent to sell shares rather than hold shares or buy more shares at the present valuation. Simple as that. Some of the sellers may well continue to carefully follow the Company, and many of them might plan on buying back in at lower levels, which may or may not be feasible.
That's all my opinion.
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