Absolutely, there are plenty people taking shares out of not only disappointed longs but all the new shares coming in from the dilution. Trust me the sellers are glad and giddy that there are people buying.
Don't care what the chart says , the price will go as low as the warrant holders or whoever will sell at. When they stop selling it will go back up. News , sales , dilution - this is what will drive the direction of PPS - charts be damned