Short closing would mean buying pressure, but this price action is jumping ship time. No wonder the owners sold, they probably realised shetty is a fraud, and left capital holding the bag!
It’s not looking good, I think they will recommend a serious restructure and governance change in the company. Overall that’s better for the company long term but will mean stunting of future growth, a resizing if the business and share price staying in the low-teens for years to come