FYI these guys we in for ~3.5mil before the crash. They doubled down at the bottom along with the director putting in 1mil, probably was the catalyst for reversal.
This is them taking some money off the table, but before this they needed the price to get to 1.05 to break even. cbf doing the math, but that'll be slightly higher now (probably around ~1.22).
I'm not too sure why they'd do this, they should have a lot of cash on hand, might be trying to make their month look better? Or they're simply trying to slowly reduce their exposure now that it seems to be heading in the right direction.
