<<Nobody would take the risk to sell millions of shares into an already cheap stock just in the hope to buy even more shares cheaper>>
What if a 'big shot' owns 10 million shares? Selling 2 million is no big deal. Buying back is no big deal. In the meantime you have a bunch of long termers running scared and a FEW adding to their already nearly-maxed out positions. Makes a lot of sense to me.
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