Pinned straw:
For what it's worth, there's also been reports of some fundies selling or drawing down on their EOL positions recently. Seneca have been reported to have been lightening their EOL position and redeploying elsewhere. They're never shy to tell everyone what they're doing - good transparency in my opinion.
EOL has been a great performer this year, certainly more liquidity now so a pullback of some kind was due.
I'm still bullish and long this stock and may top up if it comes back a touch more.
Intentions can change TH. It's not binding like having shares in escrow. A statement of intention is just sharing your current thoughts.
EOL are only 18% below their all time high and they're also today still +212% above their year low of $5.25 one year ago, so I wouldn't call today's -7.25% drop a massive over-reaction, just a bit of disappointment by a few shareholders, and maybe some more profit-taking.