No news is the reason. This is the same reason why the stock has trended down since Sept; without a big headline, there is nothing to move the price significantly. Thus the ticker tends to head in the direction of anticipated news. With no license related news expected, the possibility of some other bad news was greater.

Right now, it is hard to expect further worse news than has been seen recently. If HC was going to flunk FITX, they would have done so on their first pass. The mayor made a pretty bold claim, but initial legal insight shows FITX can carry on at least in their current state (you can thank lawyertalk).

IMO it is the rumors of HC issuing new licenses this month which is causing the upward pressure. Sure manipulators could have done this, playing the downside then doubling up when this bottomed; but they would have needed a few 10's of millions to drop down the market cap by half and snap it back to the current level.