I also feel like there have been some purposeful dumps to bring the PPS down. Either that or some investors wanted out in a hurry w/out regard to price and were taken advantage of by the MMs. Or, it is possible these actions are simply due to the delisting drama, but it is also possible that the HDSN event was a crisis put to work for others w/ different motives.
For instance, if I were to put on my aluminum foil conspiracy hat, I might speculate that CANT is working for FH to try to manage the price w/in a band. Not too high, not too low. They don't want to kill the thing, but they also don't want to let it run lest they get less shares when/if the put is exercised. This makes particular sense if JB had some moderate level of success on the PP front as they stand to provide less discounted funding.
This is just pure speculation on my part. But keep in mind that one of the new principals at FH (Daniel Glickman) used to work (most recently) at Cantor Fitz in a market-making capacity.
In the end, who knows. Once we drill, which we will, it is all about the results. Everything else will work itself out from there.
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