Looks to me as if someone has been given a mandate and a timeline for stock sales: sell 5m units by the end of March at an average price no lower than $1.75, or something like that.
Is the mandate provider Wave? A mutual fund? A short? Or a large individual investor?
I don't know. But the price seems to reset towards $1.70 or so when they are done with their transactions.
My guess is that it is Wave.
If it wasn't for the end of day reset, I'd not be thinking mandate, in which case you'd have to consider employee sales.
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