ETRF was offering 100K shares at the ASK of $0.365, or putting up a wall to absorb buyers at that price. CSTI had another 100K shares at $0.37.
It's all psychological.
If they really wanted to unload the shares, they would mask the volume behind, say, 2000 shares and drop the ASK and sell into any volume that might come from up. For example, We had a few days where we had nearly 800K shares trade in 1 block transaction, and the ask was "2500" shares.
With NITE on the bid at 21,000 shares, it was probably some short covering. The stock is lightly shorted with volume that equates to about 1.5 trading days.
