I am assuming some didn't even read what they were buying. Just...

I am assuming some didn't even read what they were buying. Just listened to the broker saying it was easy and safe money... and told their broker to buy and sell for 5%. Churn their money through a heap of cap raises and hope they get out of them all 5% up and make money.

Not how i want my money used but it happens. The brokers don't mind as they get their fees for the cap raise easy, they get the brokerage on the sale easy... then they sell those shares to others who got scaled back and genuinely wanted more (as they researched it) or they just hang onto them themselves and sell them later when the news comes. It's low risk for them, obviously. A tad frustrating for us to watch the churn... but it will inevitably be followed by a news prompted run and there will be less sell pressure when it does.