"The stock dropped 8% because of uncertainty about drawdown...

"The stock dropped 8% because of uncertainty about drawdown timing and pricing.

The stock drop 8% on Monday because some clever sausage must have found out
about the proposed cap raising at 24 and logically would sell out 1st because most stock would trade at par or below the issue price. And if u are to participate in the CR, why not sell out even at 24 to have a free carried oton at 29.

Then they switch to vaudville and bring a capital raise a day later which has seen the price fall even further with

The stock falls even further because a lot of the so call sophisticated investor are only in thee for a stag profit, when there is no stag profit they sell out and would still have the exposure on the upside with their option