Ann: FY 2017 Results Presentation, page-82

Accumulation can be done when the price is falling either by artificial means or bad days like today. Institutions use all sorts of tricks like using small repeated trades under the asking price and then when there is a sizeable parcel builds up they wipe the whole line. It happened today at $3.28. Over 2.5 million shares traded today and our share price retreated less than most. If GXY was a dog with flees it would have gapped down and probably ended up at $2.50 with either an avalanche of low ball trades or it would have fallen like a knife with a few punters dipping their toe in on the way down (low volume). Their is an old traders saying, don't try to catch a falling knife or all you will see is red. In between a surf and a walk with the boss (wife) I didn't see anything like panic or large numbers heading for the exit, just traders taking advantage of a down day and 8 million dollar+ changing hands. P.S, I hate institutions shorting stock and would ban it if I had my way. As Charlie Monger is quoted as saying, Shorting is like letting rats into the grainery.