RE:Manipulation Game Theory....Conspiracy requires a whole lot of coordination and competence that I haven't seen from CGX elsewhere.
I think it's more likely that there is a sell off due to the rights offering and this Cfo action is just a random event.
the more concerning possibility is that canadian insider trading laws are so poorly enforced that the cfo did see some news and sold anyway. We'll see what other transactions come through in the next week or so