Not enough volume for it to be MM covering. I think a select few are making there way out w/ small profits. There'd have to be a few more larger trades in between the spread. MM's have a "supply" of shares to "make the market", if it starts going up they can take profits as retail starts buying the ask.
Their supply is at a deep discount to market price therefore make money either way. As it runs they can short in their private accounts and push the PPS "back" in either direction when it benefits them. This needs to move higher for them to short into it in private accounts.
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