WHA Chart, page-337

Looks like the stock is trying to find support. It should do given the placement discount. That is not unusual these days as these funds and bots simply play numbers. They tend to lose money on a some of these placements and they are mostly self inflicted. It takes all stocks a little time to soak up the flippers before the next move. If they go up, they sell, if they drop, they sell. They are looking for volume. The same bots will buy the stock at a higher price when it turns.
If someone took out the 48k on the offer and bid for another 50k, the stock would start a move higher. If you keep bidding, it will keep rising as the buying bots chase the VWAP. It is also clear that a buyer like that is not a bot.
I have done it many times but i am set at the moment except if the stock drops into the mid 90c range.