Still, by the standards of what usually constitutes a selloff, volume is low. I have seen companies where a large percentage of the float (20-50 percent sometimes) will trade with a bad-news-driven selloff. 

I think it's an obvious tactic to take down a company where retail ownership is so high, and accumulate a position, in lieu of a PP. The RS was basically a ticket for the 'tutes to try this method of share accumulation.