Can someone please explain this to me:
As CopperKen alluded to yesterday right before close, he feels his last second purchase of 5K shares raised the pps .0001. Then, we have a 26% gain up to .0018 on 2M shares of volume this morning. It's back down to .0016 currently, but here's my question...
With so many outstanding shares, how in the heck can 2M shares move the pps that much? Isn't there a formula that keeps the pps within reason when the volume is not depicting the rise or fall of the pps? Or, is it all about what someone puts their purchase in for? e.g. People have been griping about these 5K share purchases. Say the bid/ask is .0015/.0016. Someone has a strategy to buy 5K at .0017, waits for it to fill and raise the ask, then puts in a buy at .0019, waits for it fill. If such small purchases are driving the bid/ask all over the place, couldn't the members of this board all get together and run up the pps to .005 if we were willing to buy on the way up? I realize this would be as much upward manipulation as the MM's are getting blamed for downward, but at least it would be positive.
This is all hypothetical I am simply trying to understand how the pps can move so much on low volume?