FEC Resources Inc. (FECOF)

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There are many tricks that market makers do


It may very well have been a mistake of setting a market order by someone not realizing you should never never put a market order on a penny stock. It was also done when the spread was very close not realizing the spread changes rapidly in this.
It may also still have been a market maker strategy to drop the prices and stoke fear (which worked). They could have set a market order to execute their bids in the way down to stone that fear. They did it on Friday too!!! .0125 before going to 4 cents.

Here's a link to tricks market makers do

https://www.investopedia.com/articles/financialcareers/06/mmakertricks.asp