I don't understand how any institution as a whole would put in this much effort. If any single player accounted for all of today's volume (100k shares let's say) on the sell, and bought back in at the $1.90 range or so...what do they stand to gain? Absolute best case in this scenario still less than $20k.

It's just one of Macquarie's clients trying to make a few grand at best. Maybe wanted to pay off his/her credit card or something. Or, lightening up their load for another play.

When the volume picks up more, I'll have no problem agreeing.