LMRI T/A, in the case with CMKX, any MM's
trying to control trading are doing so with the goal of consistant huge percentage profits in mind. At these current levels, the difference between shorting at .0004, and buying back (covering) at .0003 is 25% at every turn. Shorting at .0003, and covering at .0002 is 33% a clip. A nice days work day in an day out for those profiting by such control.
Pardon any disruption to the discussion you are having with Zen, but the issue many were having at the .0001 levels, were indeed those of cellar boxing. You have to remember a point that is valid for both the current pricing levels AND during the times when CMKX was at .0001 Ask with no Bid.
MM's can trade at levels to the fifth decimal. Also, just because there was no bid does not mean the bid was zero. Transactions were being put through at below .0001 levels, which was very likely trading among MM's with any shorted shares. The public could only buy at .0001, so during that time a nice profit for the MM's could be had, especially if naked shorted shares were involved. Other MM's could sell the orginal MM naked shorted shares at a discount. That's why there is such a concern amongst attorneys, including Atty Glenn.
Be well, Bo
AI
