my thinking is they were complicit in the raid that took place, representing the put side. They were one key component if giving intentional misdirection to smoke screen the action staring in put sales which was @ 15%
the night before the raid. fwiw now other's try to spin the story on why MNKD who passed two key markers
would be taken down quickly the day after. Here's how the motley fool rationalizes it and continues to bash it
"MannKind Corporation (NASDAQ:MNKD) reported positive results from its long-awaited clinical studies of inhaled insulin Afrezza on Wednesday. Shares jumped to highs 26% above the Tuesday closing price. Great week for MannKind Corporation (NASDAQ:MNKD) investors, right? Nope. The stock actually fell almost 23% for the week.
Afrezza met primary endpoints in two clinical studies -- one for type 1 diabetes, and the other for type 2 diabetes. However, the stock still fell for the week, as a whole. Part of the problem stemmed from shares dropping by 8% prior to the clinical study results announcement. Another factor was that, although MannKind Corporation (NASDAQ:MNKD) did jump 26%, investors sold off immediately afterwards.
This sell-off could have simply been due to profit taking. It's also possible that some investors might have focused on one of the few negatives with the type 1 diabetes study results -- fewer patients taking Afrezza achieved target A1C levels of 7% and 6.5% at the end of 24 weeks than did patients taking Novo Nordisk's NovoLog. This won't be an issue with Afrezza gaining FDA approval, but it could potentially be a factor in doctors deciding whether to prescribe the inhaled insulin over Novo's insulin product."
I think the better question would be is who are the major traders MM's in the 48 hours before todays market. I found the put % the night before around 11:30 PM pacific time the day before the sell off.