why traders sold, page-3

What's the record date for the entitlement to rights? If it's a future date then the premise fails.

Personally I sold on Wednesday because I felt that the move had failed and it would be a while consolidating for the next run. If I was holding on Thursday I would have sold immediately after the halt was lifted because the potential dilution would have to drag the price down and shake other traders out so better to protect profits and assess later.