Bearing Lithium Corp BLILF

LPI 22%! down in 3 days, 16% since LPI vote

[neosceptic]

Out of 22%, 10% today.
That is why I do not speculate. Never know short term market movers motivation. 
The news is obviously good, company finally can get moving, 3x less internal bureacracy and 2X less external ones. 
It become an attractive aquisition target after the merge:  project = company vs. project = who-knows-what JV
LPI is getting 9% control premium (from 51% to 60% share fo the company)
Market is roaring pushing most companies up.
LPI s/h reaction -22% down!

I assume the reason is that everyone expected positive outcome and many bought LPI after June's announcement to hold it, until the catalyst, expecting flood of buyers, that never come. So dissapointed speculators are selling to move on.
Happened to me when I tried to capitalize on the single event once.
Of course, there are other explanations, but I doubt that serious investors hated the move so much. Otherwise why all 3 companies had 97-99% YES vote. 

Maybe these 2% who voted NO in LPI are exiting?