A friend commented on my audible disappointment when we closed at the same price as opening. He suggested that the reason we closed where we did may have had something to do with our mysterious $2.5m investor. If today, being the first day that the $2.5m option to shares could be converted, had to be included in the total of the 5 day moving average calculation, then it was in the investor's best interest to see the price down as much as possible at close of day. We were fairly stable for the early part of the afternoon at aroun $0.69-$0.70 until around 2:00pm when, oops!, the stock started dropping all the way down to $0.65. Perhaps a few 100k shares were "sacrificed" at a few pennies reduction in order to bring down the 5 day moving average price overall?

Any mathematicians out there care to calculate if the above makes any sense?