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The selling witnessed in Continental Gold (CNL.to) must have hurt all those CNL insiders who bought at higher prices recently. But the response is bizarre and is straight out of the little leagues, CNL's NR today isn't much more than a petulant "It's Not Fair!" piece of foot stomping about what looks like one fund liquidating a medium-sized position as the reality of the situation finally sinks in, that there is no buyout offer coming for this stock and the price is destined for a long period of flatline.
It doesn't help that the man at the head of CNL, Ari Sussman, has the baggage of being in charge of companies that suddenly come under selling pressure on no news, with retail finding out the reasons a long time afterwards. And that Sussman quietly sold millions of dollars of his shares at that previous gig at higher prices. History rhymes, so maybe retail are right to be nervous.