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Wednesday, November 23, 2022 4:14:38 PM
I think most folks can't buy batches larger than 9,999,999
so....most likely, a premarket bet ready to go from an algo. if it was human, say ballas getting a golfing buddy to buy to give him 10K more interest payments....wouldn't be at 9:30 at market open.
the other 8M probably were humans, but a 100M buy from an algo.
our tiny tiny drops to .000001 were expected, that's the MM algos "balancing" after the relatively large buys. always trying to end the day with PPS action on any stock at same level if not a little down.
my best guess is a lot of folks think that the MJ market is going to pump with "legalization" soon. perhaps one hedgie got early to the game.
most likely one algo was still tied to tilray, aurora, the big MJ players.
the bad news is if I'm guessing right, a lot of algos hooked to MJ have given UBQU, a CBD only company, less connection.
with all that being said, when the pump of MJ legalization comes, I'm sure we'll get more than one 100M hit.
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