Polar Power Inc (POLA)

[wadirum1]

Pretty wild trading today. Looks like someone dropped some massive sells to crush the bid -- and yet the price just keeps bouncing back up.

Seriously, who drops $360,000 worth of shares on the bid of such a thinly-traded stock?

My best guess -- and only a guess -- is that this was a wash trade. You sell a massive amount of stock at the market, but you put in a matching buy order down below the bid. So, you crush the bid, but most of the shares aren't actually sold, because you buy your own shares.

This is, incidentally, illegal. But nobody ever polices such trades.

Maybe there is some other reason why someone decided to dump this many shares on such great news -- an miraculously manages to find a buyer not too far below the bid. Anyone?? LOL