Bumping this post...as now down 50%. This is the only thing that makes sense imo...highly unlikely it is "new short players" and there was no one else with a big enough position that could relentlessly sell without filing a Form 4.
PS - volume the last 2 days on a pre-split adjusted basis is pretty significant (relatively speaking). As of this post just shy of 40k on the day which is 240k on a pre-split basis. Last 2 days by far highest day volume since Feb.
Just a hunch, but I think this reverse pissed off Armistice.
Still relentless amounts of selling and down 20-25% on day 1...with volume on a split-adjusted basis at roughly 75k and growing.
They are the only ones (non-insider) with position sizes big enough to continue to offer post-split. Considering their warrants are now at $16.80/share...they are unlikely to see that money, ever. So, just spewing their shares at the bid to get whatever they can on the original investment is my hunch.
PS- Dahl's candy for his milly "bridge loan" is at $17.46. LOL. Clusterf....