theory on lack of activity

I'm suprised at the weak performance after great news. I'm wondering whether a small cap fund manager is dumping the stock, just like it seems they did on the options, and any news good, great or brilliant is irrelavant. As they are just selling out at a nice profit and their customers would be very happy and none the wiser of what could have been, if the shares were held. There doesn't seem to be any logic to selling a stock in the postion this company is in, unless your desperate for cash. MBL's amount of stock has remained unchanged since they bought, right upto Subsea guys were issued more stock. Would MBL manipulate the stock to this degree anyway??