Where did you get that information? I am not sure if it differs in the penny world versus big-board stock, but in my experience the order must be placed at the ask...if the ask then turns to the bid, it need not be changed, and so then would be considered buying back at the bid...any new orders need to be placed at the ask...so they could remove the order, let it drop some more, then buy again at the ask...I am not 100% certain, but 97%...anyone know for sure?
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