Weak hands leaving the scene.While this is clearly affected by hype I think we can clearly say that the bubble is gone and that people still holding are holding for the rise and redemption especially when legalization kicks in and these companies can start making some serious money.
If people are selling they didn’t have a real understanding of what an investment company is or how their stock appreciates. Since its value is based on the accumulation of the value of its investments its not necessarily going to see the meteoric rise in value we saw in december to January.