It has nothing to do with PPS, it is all volume related, as long as significant volume exists they will dump at any price. When the volume dries up they stop dumping and hope it recovers and do it all again with a new story. That is why they cook up stories of shorts and MM manipulation to make the naive think that it is simply manipulation as opposed to dumping of shares.
What you fail to understand is the shares were already purchased for a steep discounted price for a huge block, the company has the money in hand for the shares, the person who bought them doesn't care what price they get for them since they got them at a steep discount. They just want to unload all of them and that is all that matters. Gets some touts and pumpers throw in a PR or two and even a promotion and you can unload anything if there exists enough volume to dump them all.