Maybe it's true, maybe not. People would like to believe it's true though. But, like you say they did not stop the share price from falling. Also, if I wanted to build a large position I would not tell the board about that as I wanted to pay as little as possible. Guess most people would act that way.

Just some guy trying to scare shorters and that got lucky with sudden heavy buying (shorters covering?) ?

We just don't know what's going on.

We have to sit it out or sell.