It is most likely the shorts walking it down. It was well orchestrated yesterday and today. MMs or shorts attempting to shake some shares loose by putting on some downward pressure before the next leg up.
Just my opinion.
We will see if my scenario plays out here over the next couple of weeks.
In the filings, they have officially given the green light to those folks that were going to help solicit some more bids. They were paying them $50k just to do so. I don't believe they would dump $50k at this stage unless they knew there was some serious bids lined up or lining up. There were already 10 bids under seal before Streambank even came on board.
CCTYQ, if they accept a different offer, it has to be a pretty sweet offer because they are going to be paying a hefty buyout clause of something in the range of $375k I believe. All good if the bids are that strong.
JMO
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