Strategy, IMO, was for some institutions to buy shares and loan them to shorts in order to manipulate the stock. Both stockholders and institutions knew the company was closing in on commercialization so stockholders wouldn't sell cheap and institutions were desperate to get a toehold. THAT is why the price spiked.
It shows that institutions had to pay dearly for that first 1.5 million and participated in the run up. The chart shows a surge of BUYING - not SELLING.
Quarterly institutional interest.
June 30, 2021 383,488 0.34% (ex 13D/G) Sept. 30, 2021 1,572,492 - 1.39% 4x Dec 31, 2021 10,650,274 - 9.44% 6.75x March 30, 2022 16,023,079 - 14.20% 1.5x June 30, 2022 25,953,669 - 23.00% 1.5x Sept 30, 2022 26,398,135 - 23.39% 1.017x (note that stock price went to 12 to get this small increase in September)
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