no, that's sumpin else entirely.
This is about "pennies," OTC issues, not stocks traded on an exchange. When the SEC suspends, it requires MM's to stop publishing a quote, that is, a bid and ask. Once that happens on *any* OTC stock for four days, it "goes grey," but in these cases it's enforced by the regs, ie, the suspension, which lasts ten trading days.
When the suspension ends, it *can* trade but only on an unsolicited basis; thus, trades are said to be "matched." In other words,trader A wants to sell 10,000 shares. For that to happen, there needs to be a buyer for the 10,000 shares on the other side--or 10 buyers wanting 1,000 shares. That's the simplistic view; actually trades can be aggregated or someone can get a partial fill. And MMs can trade for their own accounts, but can't "make a market."
Bottom line, it's like throwing darts, blindfolded, in a dark room.
If an issue is heavily traded, for instance has a "cult" of Kool Aiders, savvy, experienced traders will sometimes jump in the first day or two and get some cheapies to sell back in the high range (whatever that is) to the Kool Aiders who are convinced it's a "buying opportunity"--which it almost never is. With no MM to make a market, regardless of how well it initially trades, the end result is a downward spiral of lesser PPS and dwindling volume.
Truth is, once a stock goes grey, it almost never recovers. To get off the greys, the company has to find a willing MM to sponsor it by filing a Form 211, described as the 15c2-11 process, which is the driving regulation. Basically, the company has to have the actual or equivalent of audited financials.
