I read from the book that this technique had been used since 1930 probably earlier. It is good to know for small retail investors to not being easily swayed by the markets. “big investors technique to accumulate stock is to keep moving stock price down”
It's called "Deep Capture". It happens mostly with undisciplined retail where they've lost so much it makes no sense to sell. Just can't come to terms. Same effect is also responsible for investors posting non stop for a decade.
All we see in this stock is a warrant holder / shorters long wet dream.
Another post summed it up well...
"If you're a failed biotech, you really have two options:
-announce failure and become a shell
-don't announce failure and keep syphoning retail money into perpetuum. Gnaw at their reward centres by creating a sense of imminence to keep sp up
So I mean, who can blame them."
PS- Oak Island legend is an excellent analogy for how to capture an audience.