Itonis Inc (ITNS)

[hebroots]

L2 does not reflect individual people, just the individual Market Makers (MMs) who can have a conglomerate of peoples' orders. L2 will show the list of MMs, which you can look up on another site to see what their letters stand for (e.g., NITE, CDEL, ETRD, etc). There are hundreds of them.

Unfortunately, the number of shares shown can be fictitious. An MM who is an active player is only required to show a certain minimum (e.g., 10,000), however there may in reality be many more. That is why you will see sometimes 10,000 showing but maybe 100,000+ shares get traded at that price. MMs use this as a headfake or to make us folks think "a big move" is underway in a certain direction, when in fact it could be the opposite.

In my opinion, watching L2 is good entertainment, at best. Don't trust in what you see.

As far as commenting on the delay, my guess is that it was ITNS that did not keep up with the labeling requirements and got caught by surprise, and scrambled at the last minute to catch up. The NDC application was either an oversight, OR, they had not finalized their ingredients to make the application correct. I am not ready to blame FDA yet.

As far as trading goes, still trying to buy @ .004. We'll see.