News: NVX Novonix Ltd To Defer Share Purchase Plan Until Share Price Stabilises, page-13

The price drops because of the lack of buyers, traders then take out short positions which shows up as "sells", this along with panic selling from nervous holders , drives the SP lower.
This is the normal chain of events in any stock, if there's a lack of sellers, then the opposite occurs, the price rises, and shorts rebuy their positions as "buys", which drives the price up
I hope this clarifies things a bit for people who consider that shares being shorted is manipulation, it's just the same as the stock being bought long, and the price going up, and is a constant cycle.
A nice bit of support today, just hanging on by a thread, with an inside bar reversal occurring on the hourly chart, with a bounce to the upside, exactly what I hoped to see.