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Wednesday, April 15, 2015 7:32:45 PM
Why would market makers buy so many shares at $0.0001 only to sell them at the same price?
Simple... because they were paid to do it. When the price is already down to $0.0001, financiers can either sell shares below the retail floor of $0.0001 (ex: $0.00005 or $0.000005) OR financiers can pay market makers an extra commission to handle buying of large blocks of stock and selling of that stock in smaller blocks at the same price spread over weeks.
There is no way that retail buyers absorbed 622 million shares in one day last week. We also did not see big purchases of DNAX below $0.0001 so market makers must be receiving their profits through direct fees paid by the financiers.
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