Tuesday, November 20, 2018 2:03:53 AM
A better question would be... So who really ended up with those shares?
I'd be willing to bet heavily that they didn't even make it to the individual sitting with the current bid. I've tried to pick up shares well above the listed bid, numerous times, for a while and they never even show up. I've even called E-Trade about it. Simply put, the MM has the option to buy shares and sell shares and it certainly appears that they have the ability to skip right over a bid (that's not showing up on Level 2) at $.35 and make it look like there's no interest above $.10!
The question would then naturally be, why? The MM(s) usually have shares available that they can freely trade so they can "technically" create a market. The only issue here is, well, there just aren't any shares available to them. The company can't issue any new shares and the only way the MM(s) can get them is by scalping them. There is very little $$$ in it for them (MM's) without having a large number of shares to "pool" from. All of theses things point back to the tiny and nearly fully locked up FLOAT! There are very few, if any, remaining registered shares available. There should be a few light bulbs at this point!
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