Yes, I definitely think that's the case.
"Oh, well." -- right?
Those initial investors bought in back in mid-2017 and are still making a decent return at $0.43 - $0.50.
I still think it's crazy to not hold for another couple weeks when the company is just finally "getting going" in the public eye -- but as I've said before, it's almost better that they're selling NOW before the bigger news to where they'd sell at $0.75, $1.00, $1.50 to slow the run. :)
Build that new base around $0.43 - $0.58 and let those guys get 100% - 200%+.