All For One Media Corp (AFOM)

[tedpeele]

As the price has come down I thought I'd nibble a bit - 3 times in the last few trading sessions I placed an order above the current bid only to see the bid immediately raised to slightly higher than what I had entered. I am not aware of retail having options to place orders that would result in that, so am wondering what anyone here thinks is happening. Here's what I came up with:

The spread is larger than the mm would like so their programs are set up to 'encourage' retail to raise their bids. They do this by putting in their own bids at a price that helps close the gap between bid/ask. This encourages more liquidity and enables the mm to make the commission they need/want to make on orders. But why bother? Perhaps there is a very large amount of shares available to sell that has instructions to not go below a certain price. That would seem to explain why there seems to be an algorithm to encourage liquidity and a raised bid price.

In this case, it also might help partially explain why the price seems to be drifting back down. Those shares can be various sources - someone in retail, from convertible debt, or maybe even shares accumulated by market makers - although my understanding is that mms are more interested in just maintaining liquidity than in accumulated a position over time.

Anyone here agree or have another opinion?