I really hope it is Arena offloading as it is getting the shares...

I really hope it is Arena offloading as it is getting the shares out of lose hands and into long term holders. Every share they sell now is one they can’t sell after the auction.

In regards the SP movement we will see a suppression before the auction and a higher rebound after the auction. This assuming that Arena is selling now and that they would have should shortly after the auction.