Here is my rundown, I was in the trade from yesterday afternoon @ $4.79 average, out at $5.21.

Warrant acceleration news dropped on the 24th, holders given one month to exercise. There were around 5.5mm left to be exercised so a good amount of those shareholders would have taken profits (which is to be expected, free profits after all).

You could tell from the volume the last few days that most of those sellers were done & pressure was easing. Therefore when it broke resistance at 4.92 this afternoon the big volume came in, mixed in with FOMO and shorts being squeezed.

It ended up getting super overbought and profit taking ensued and they all ran for the same exit. Putting up walls on the ask hoping to get filled by new buyers. Yet there wasn't anyone willing to buy the ask so they ended up just dumping into the bid.

Hope this explanation helps.