Pending available shares the order would be partially filled as sell orders came in, depending on the limits placed by both buyers and sellers. and if by chance no shares are available, total stagnation. No chance of a rise in PPS, unless it was a market order, and for OTC/pinksheet stocks, non existent. you can infer your "short" scenario but with no irregularities when the split happened or during the shareholder votes, there are no shorts and this won't matter. If a person bought 10,000 shares at ask, pps would go up but the question is, what would you be able to sell yours for? At the bid, period.