What's this talk of short sellers. Even looking at shortman they immediately buy back their position the next day, so net effect on sp is 0.
What IS likely happening however, is instos are in an aquiring mode. For example, they sell 1million shares to make share drop a few cents. This triggers a bunch other stop losses of others causing it to fall even a touch further. They are then able to rebuy 100k shares at a lower average price than when their shenanigans started. This means they can keep their share position with cash at bank, or increase share holding at no cost.
I'm a novice trader so I am sure there is a an official name for this play.
That's my take.
This also answers the common question as to the purpose of selling at a low point.
