KPO Chart Thread, page-258

Not saying you're wrong (I'd very much like for this to be true!), but I'd be wary of holding too firmly onto that view (in the absence of any real supporting evidence), if for no other reason than its an explanation of events that fits conveniently with your existing 'holders bias' (we all have one!)

Another theory regarding the lack of a company update (which is no less plausible imo), is the company has nothing of substance to report! Flipping the causal relationship around - rather than waiting for the selling to finish before updating the market, holders may be selling because an update is not forthcoming

It's a more mundane explanation but just as likely. It's also an explanation that provides less comfort to holders that things are somehow still 'going our way', despite the falling SP and relentless selling pressure