That's fine that your're "not in the camp there's anything all that savvy behind this."
Let me break this down hypothetically. Say there's a group of investors that pull together $100,000 with the intent of taking a position in SNEY. They have a target of 16 million shares at a cost bases of .0057, or $91,000. They get partial fills up to 11 million, then place that back on the ask as other investors get excited to see such a large bid of 16 million at .0057, a virtual bottom, and others start to increase the bid. They place the 11 million at .0068, creating a wall, because they don't want this to run before they get there base of 16 million filled. They keep the virtual hammer on the ask until they finally get their fill at or around .0057 for the entire 16 million shares. Once that is accomplished, they use the remaining $9,000 to attack the ask and increase the value of their 16 million, and start the run that would hopefully double their investment.
Hypothetical, but if that is what is really playing out, I would call that pretty damn savvy. AIMO
What exactly is your definition of savvy?
Get your facts first, and then you can distort them as much as you please.
Mark Twain
