OK, "You are naive Cacy", but step aside for I am there before you ;-).
My naivety:
I consider myself besides a holder a (tiny ) day trader. Week trader in ECU's case now. Little guys or even bigger ones, but Retail Ones, mean nothing. Day trading is not the reason. I actually think they drive the price higher.

To a greater extent are probably shorters. Still not the main cause, imo.

So you are correct but I would augment:
The main and biggest are the sly manipulators (along the lines just inferred to by Coach and Moose) whose intent is to aquire as many cheap shares as they can by any means that they can get away with. It may not necessarily be a future buy-out candidate. It could just as likely be an individual with a big bank roll or a financing institution that sees the inherent value and is setting himself for a huge profit at a late date.

There are no scrupples when it comes to whose greed at making money.