IMO the sellers on those days were the converted debt holders that received shares. There were a handful of big buyers. There were a lot of transactions that day but there were a few ppl accumulating.

There was a ton of selling beginning in December or after I bought in. It was end of day most of the time but I remember saying and seeing others say...who is selling after a merger is announced???

It was most likely the ppl that bought that day IMO.