I look at the lure of easy money. Those that held 1s, OMG!!!!!!
Congratulations!!!! How many actually DIDN’T FLIP?????
Then 2, 3,4, up to 9s then the music stoped and they all went looking or a chair.
My, point is the same shares were probably flipped, flipped, and you get the point. It can make it appear like dilution. It has the same behavioral effect as conversions hitting.
Heck yesterday 4s sold at 5 were worth 25% gains!
Example: 40 million, back and forth adds up quick!