I experienced a very similar scenario with NEA two years ago....

I experienced a very similar scenario with NEA two years ago. Reporting $30M revenue, no debt, positive cashflow and just expanding to US, it was a bit similar story to FLN. But at some stage, bots took over the stock. It would go down everyday, losing > 30% for no reason. Then it turned out Credit Suisse was selling gradually and inflicting panic on sellers, then they bought back big time. SP jumped from 35cents to 55 over two weeks, it went to 97 cents a month later. But along the process, Credit Suisse made many sellers lost confidence and made them sell at really cheap prices, which were nicely collected by credit suisse brokers...

Usually, i'd expect Matt Barrie and Simon Clausen to jump on board at these prices. But I guess they already own ~90% of the company, there is no point to accumulate even further.