I believe a large portion was shorts covering.
I think anyone who was short and could participate in the CR got their ticket punched and they will return shares from the 18c shares they receive. The rest who did not participate would have needed to cover while the getting was good. out of the 300 million shares traded that day, I am going to guess at at least 1/2 were shorts exiting.
We will find out when the t+4 days shows on shortman.
after the other group gets their shares on June 6th we could be down to 6% or there abouts.
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