NSAV Holding Inc (NSAV)

[shotsky]

It could be, or it could be larger orders broken down. All you see on L2 is the partial trades that it takes to fill a larger order, unless the order is small. At this price, 10K would only bring $400. I doubt anyone is doing that. 100K would bring $4K.
People are selling much larger amounts than that. Do you see a million share buy/sell anywhere on L2? No, because MM's buy what they SAY they will buy in terms of bid, ask, and QUANTITY. The quantity is what they guarantee they will buy or sell in one tranche.
On another stock board the other day, I saw 13 trades of 99,000. All one after the other. No seller was trying to sell exactly 99,000 shares 13 times in a row.