Someone is trying very hard to draw sellers to the stock.
My gut feeling is that the 3 sell orders of 500k @ 4.7, 500k @ 4.8 and 1.2 mill @ 4.9 are from the same seller.
This totals 1.2 mill. Only ONE holder in the top 20 owns 2.2 million.
Naturally, this holder wants to accumulate more stock in the low 4's.
When this garbage stops, the share price might rally back to a more realistic level !!