Peyton...as you know, MM make their money selling and buying between the bid and ask price.. it does not matter what the PRICE is, MM need volume to make money...having said that, why are the MM playing the spread at the low prices, when 86% of the O/S are held by institutions? certainly, there are only 14 % of the shares to play the spread, but there would not be enough volume to turn at the higher prices if the MM raised the bid price...longs would only hold their shares more tightly, and the stop loss orders would be raised, so MM could not generate enough volume by raising the price of coop...so, what did they do?...now, maybe the MM, and or institutions sold short against the box to lower the price... so far it worked, but they still have to deliver the stock by buying back,or letting their long positions be taken away....notice that the spread price is one penny... what this means is that the MM want buyers and sellers to generate the volume at the lows... when you see the spread rise, you can guess that the MM are flush with stock and want to sell it, albeit at the higher prices, or, they want to buy, but they do not want to sell.....so, what does this mean?...MM crashed the stock price by whatever means, and now an attempt has been going on to cover going into the May 1 meeting.... with only 14% of the shares outstanding, there is very little room for them... Tutes and retail holding tight, they must drop the market dramatically to get shares, but the wiggle room at 14% is very scant.... good luck short sellers, with a PE of .77x, and a good earnings review for May 1......Lodas
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