RE:RE:RE:22.5M Financing...I witnessed the same exact behavior over the past six month including the behavior you described post offering announcement.
There is a big buyer lurking, hides his bids well, but my big sells were consumed. He loves disppearing though when he senses a big seller or pressure.
I picked up near 50k shares post offering announcment when it dropped 12%. My purchase was executed on the ask in a second with no budge of the offer. Before then, it would take me forever to build a lot that big as the offer would get pulled and I would get tons of partials. Making me pay up.
Who is the recent seller? Shorts maybe. Brokers maybe as they need to get their clients a cheaper deal. Or real holders who know 90% of the time, stock drops with an offering.
Nonetheless, I am in this long term and this is all noise. I have a trading lot that keeps me interested but my core is not moving. Stock is too cheap and momentum is only building. We will be in a great place come 2022, much higher than here.