I'm not totally sure what was going on with L2 towards the end of the day. A block of 2500 shares @ around .35 - .38 would show up on the ask and it would continuously drop, many times a second, by fractions of a cent, until it hit the highest bid, and that bid would fill. Then another block would pop up and do the same thing, it did this several times in a row.
I don't recall ever seeing anything like this before in many years of watching L2, it was like a glitch in the automated trading system.
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