grind lower... why?, page-40

warhorse

"Institutions bought $150m of stock @ 75c because they expected to make a profit on it day 1. They did not expect to lose a considerable amount on their purchase, particularly when the project was finally considered de-risked."

You have not considered that they may have made money from day one without lifting a finger. They may have used their placing to cover their shorts off market, thus avoiding any price run with large volume buying on market. Also, they may be having another crack with shorting with their placing. The scenarios are numerous.