I guess the dumping of shares is related to the news about half of the shares not being sold... and the fear to a future bunch of IPO-price-shares, maybe?
Danny said those shares will be different in a couple of ways, starting from the initial dividend. So no, I don't think that's the reason at all.
People are just cashing out their profits. IPO was at 0.003, many shares were sold for much less on Havelock since someone got out because he was scared or tired or just needed the money. So we are talking about a 80% or more profit, which is great anyway short term.
He also said those remaining shares might not be sold in another IPO. I wouldn't be surprised most of them are sold or promised already. Tuur Demester was there in Cyprus attending the opening. I wouldn't be surprised to hear he bought a fat chunk of these. The launch also bought fat exposure to Neo. Now Erik Vorhees starts talking about it so wouldn't surprise me at all to see these guys investing in Neo, including some VCs. Bottomline here is, there won't be a second offering for those remaining shares most likely. I think they will be sold privately.
Sure some short term profits are good but that's not how you make real money. Bitcoin was up 32x in 2013. Those who sold for 2x gain got screwed, same as with any high growth company. 2x gain is peanuts versus potential upside here. People selling for 2x gain now will feel like cutting their balls off few months from now.