He was obviously talking about the impossible scenario of a S4V, and he wakes up with a bunch of shares in his account. Everyone will rush for the exit door including myself. It is called dilution and worthless piece of paper and the stock is not even worth the paper that it is printed on it.
But nobody will sell in the normal scenario when WMIH/NSM will grow to become a number one mortgage company with its number of shares kept at a sane number.