I'm not sure how trades change hands that aren't at the bid or the ask. I have noticed that when relatively large blocks of shares trade. . .they sometime go below both the bid and the ask. I've noticed it a lot more with this latest frenzy of buying on HRCT shares. Market makers might be trading large blocks between themselves, however, I'm not sure how legal that would be. If anyone can shed some light on that one, it would be appreciated.
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