I've been a GERN long forever. As in pushing 10+ years. That first day when it dipped to $3.60 I took it as a gift and bought more shares. I thought it might last one or two days before going right back up over $4. That doesn't seem to be the case and it's gone the other way. Now I want to buy more again, but I'm gun shy since it may just keep going down.
There is no manipulation. You simply don't understand what ERY is. It's not a bear oil ETF. It's a bear XLE ETF. So it doesn't follow the price of oil, it follows the price of various oil companies. While oil has been down, the oil companies have been up the last few days. If you actually follow those, like XOM, you'll see that ERY is tracking it pretty well.