Market Makers often sell off to sub penny just for kicks.
Those blankety blank 'Market Makers' are now doing that sell off with 100 to 10K or 20K every so often; whatever, for unknown reasons of their own; on most all Grey market tickers.
All 'Market Makers' eventually do this regularly to sell off at near zero prices that don't make sense realistically.
They're only exchanging shares with eachother, for whatever reasons. ( MEANINGLESS TRADES )
WHY?
To encourage buys maybe? Geez, that's doubtful reasoning.
To discourage buys maybe? That's my guess IMHO possibly.
( nothing they do makes any sense anyway, except their trickery for spread profiting coins. )
Their excuse is always ( "To create liquidity" ), as they're unregulated with little oversight or rules.
From memory, Rule 22: MM's can't go outside for more shares, so a buyer must "read their minds" to call for a REROUTE to another MM if waiting hours. MM's usually are quick 5-15 minutes, but sometimes only check for bids once per hour. If the MM is out of shares, you must read their minds, & call for a REROUTE to another MM. Nice huh? You also must "read their mind on PRICE & VOLUME MOVES as well. Wizardry helps!
Seances with a crystal ball may help more too? MM's seem to hate GREYS, & play it that way unless buying a lot that puts coin in their pocket; but then they still knock it down to sub pennies just seemingly for spite.
The shares that are sold off for what is a ridiculous price result is only the MM playing his Nintendo style wizardy when out of coke & JD. The MM's never sell UP, of course. Selling off sideways is caused by their sideways vision I guess.
MM's also seem to think that big holders will buy it back up to reinstate the value; but they're wrong. I won't.
Maybe that sub penny price ( in their mind ) makes it more attractive to more investors. BUT TRY & BUY AT ANYWHERE NEAR THAT PRICE, & YOU'LL GET ZILCH. Go figure.
China's April stats have slowed, but still the fastest 6.9% GNP; so recovery will happen --soon we hope.
Nathanial, can you Skype Shulin Liu? Ok, how 'bout YODELING for him from a mountain summit maybe?
I don't care who buys, or what price it holds. All I care about is a 10K visualizing on the SEC page, or my pal Shulin Liu stopping by for an update. From all reads, it looks promising; & will happen soon. 2017? 2018?
Hopefully Today! GLTA
