In terms of the trading action on this being weird, I would have to agree. I've never really seen anything like it. It makes trading almost impossible. Fidelity and thinkorswim kept showing the same thing almost everybody else was showing, and that's .1401 on the bid/.24 on the ask. At one point the ask was .37. Etrade, however, was showing whatever the real bid/ask was. I think it's pretty clear the MM's are playing games. What makes me think this still has a slight chance of going up today is the fact that another guy on the Google board had a bid in for 20K shares @ .15 all day. At the end of the day, when they managed to drop it down to .15 on 139K shares, he only managed to get 500 shares filled @ .155. THAT'S weird.
And then there's the fact that over 80% of the volume over the last 3 days has been above .16. That's almost 9 million shares out of a little over 11 million traded. A lot of these were on the ask. Then there was that 200K share block that went through @ .165 - at the ask - around 1:15 EST. Something's not right with this.
Does anyone plan on selling or buying more today? I'd love to hear other's thoughts on this.
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