My response to the selling today from another board:
I don't see where that many shares came from. People couldn't have got their new shares yet. Maybe someone worked out a deal with their broker to sell them short betting on their new shares getting there in time to cover the trade. Only problem with that is, if the new shares don't arrive in time, they will be forced to buy them back. Very risky thing to do on their part if that is the case.