No they bought Puts back in November that expire at lockup. That is how the game is played. Then they unwind those positions on the "news" of lockup where are the retail investors think the stock is going to tank, and then hold the stock.
It turns out to be way overblown and there is just incredible hype everywhere about lockup is expiring, lockup is expiring. Look, the lockups always have ways out and around it, and I think we've already seen that in the 30% drop.