Really, the selling started on 10/29 after the stock initially was cut in half. I think the restricted shareholders saw that and figured it will happen on 11/29 too, so they could buy after the price cut (provided they don't cause a price jump with purchasing too many shares at one time).
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.