I agree that what's happening now is classic capitulation, no...

I agree that what's happening now is classic capitulation, no doubt about it. However, I believe its mostly retail investors selling at a loss, rather than those who participated in the capital raise. My reasoning is that the capital raise was limited to institutional investors.

It’s unlikely that these firms, who invested at $1.15, would immediately sell at a loss just because of some market panic. With their market experience, you'd expect them to stand by their investment decisions, rather than letting some negative news in the wind cause them to sell at an immediate loss?

Everything eventually recovers. Markets bounced back after the GFC, Covid, and what we’re facing now isn’t even a disastrous situation in comparison.

Maybe I’m giving these firms too much credit lol.