Same song and dance, just different stock....the retailers hype and get excited and run a stock up, the big and more experienced money knows when it has gone to far and they also know that they can short with impunity because they know these little biotechs will always bail them out with a secondary.
The question is how often they work hand in hand. And sometimes the people who have done huge shorting are actually the ones who buy the multi-million dollar secondary. Then they have successfully covered their short, aided and abetted by the company, and those who pay for it are always the same group, the retail investors. Not a level playing field, and now it is worse than ever, in that regard.