If one shorted at the recent peak from bottom, that's like 10%
So they could get in two separate shorts on the way down, and then start buying as the SP is dropping, but allowing the price to fall all the way to C$5 which is support and gap, close the short at the Bottom, and keep buying back up to resistance. Repeat, Repeat. I could see an institution pulling that off, especially if it is accepted behavior by the Company that you are accumulating.