Swartz has likely converted his warrants, sold his shares and pocketed the $$$ he has made on doing this.  I would think his 40 million shares or 9.99% or whatever it is - would be more than enough to take advantage of any SP explosion - "especially with his cost basis". 

In other words, I don't think he's accumulating - he's already got more than enough shares.  He is hedging his large position by converting warrants and selling shares as fast as he can without tanking the SP (more than it already has tanked).  JMO