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Thursday, April 25, 2019 1:07:32 PM
Someone gets tired of holding shares. They aren't able to sell into the bid because there is no bid. They are last in line for their shares to be sold on the .0001 ask. Losing patience, they put all or some of their shares up for sale as a market order. At market order, it's up to what ever a MM will give them. I've seen .00005. I've also have seen .00001 as the print.
So that accounts for an EOD price of being under .0001. Then the next morning -- someone hits the .0001 ask -- thus showing that crazy increase in share price. Also, a .0001 hit on the ask could hit a few seconds after the close on the same day as the market order sell -- and that shows up pre-market the next morning -- I think??? -- I believe???
Either way, that's what you are seeing when that happens.
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