Foyston Gordon & PayneFoyston Gordon & Payne had 3.723.815 (13.65%) of outstanding Indigo shares in November 2019. End of June 2020 they had sold their position (source: Bloomberg), i.e. it is plausible to assume that Foyston was the whale selling huge quantities of shares starting in May 2020 going into June 2020.
It is good that we have their exit behind us. A stock price around 1 CAD was in my view an anomaly triggered by Foyston's (assumed) aggressive selling.
Sometimes ownership information in databases like bloomberg is not correct so this information must be taken by a grain of salt. However it was clear from the volumes in May-June that it was a major (or some major) position(s) beeing liquidated over the market without mercy for the impact on the stock price.