NSAV Holding Inc (NSAV)

[shotsky]

There is nothing confusing about it. MM's buy ALL shares that are sold. Then they sell them to buyers. They have a spread which says what they will pay and what they will sell them for, and a QUANTITY that applies to.
If someone sells at market, the MM's snap up that quantity, lower their bid and keep on until they are all bought. The price walks down, because they bid lower on each tranche. A tranche is that quantity their spread applies to, and it usually isn't very big. (some thousands, not millions).
If someone sells at a limit, MMs have to pay that price if they want the shares. But at market, there effectively IS no spread, because the seller is saying 'I'll take whatever you'll pay' for them. MMs LOVE it when traders sell at market - they cash in by dropping their bid for each tranch. THAT is why the share price drops, not because of some 'buyer' looking for a deal. The MMs get those shares FIRST.