Not sure I follow here - the loss is only crystallized upon...

Not sure I follow here - the loss is only crystallized upon sale, so the true long term holders haven't lost anything at all.

The company has had nothing but good news, they've hit nearly all of their targets & been very transparent about any delays in execution.

It seems to me that holders are only selling due to the downward trend in share price, whereas everything else which which will play a part in FLC's success is on an upward trend (ie. global water shortage).

A few mates of mine who bought around the merger sold recently and I asked them why - they said they can make faster money elsewhere. These are probably main type of shareholders that are responsible for shares slipping into the hands of chaps like Ronald Lauder.

IMHO this is a rare case where averaging down significantly is actually a smart play.