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Tuesday, April 09, 2024 5:47:25 PM
What is more likely is someone had a margin call on their account and the broker decided to steal these shares to cover it.
Could be. But what good would this trade do? Presumably the margin call would be for a good deal more. And in any case, the brokerage would first call the client. Most could come up with a small amount. But the brokerage wouldn't bother with an amount this small
The obvious explanation is that a longtime holder decided to get Calissio out of his portfolio and liquidated the position at market.
What is known for sure is that some entity just established or added to a CRGP position (every sell needs a corresponding buy). That’s a fact.
That entity would be a market maker; probably one working for the former holder's brokerage. No one but an MM could execute a trade at 0.000001. You've never seemed to have a good understanding of how brokers and market makers work.
I'll point out further that you for some reason assume all of yesterday's trades were made by the same person. Why? Why break up his order? I see no reason for doing that. All we actually know is that someone dumped a little more than 6 million shares at $0.000001.
The value of the sale was a tiny bit more than $6. To be precise, $6.001001. You're making a big deal of... $6.
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