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Friday, March 07, 2014 4:55:03 PM
It will be eligible to be traded on the Grey Market the next day. Some formerly suspended stocks begin trading right away. Others don't trade for a few hours, or even a few days. It all depends on the amount of interest, and on who feels like being the first to take the plunge.
Some brokerages require that clients call in to make trades, but most all online trading of Greys.
Market makers will not be allowed to make a market or publish quotes. You will, however, be able to see the trades as they happen, and to follow time and sales. If you want to trade, it'll be up to you to enter a limit order for a price you think will be acceptable. Trades will be matched, and the MMs, who will facilitate them, are entirely free to accept only the orders they want to accept.
Usually trading will be extremely volatile for awhile. Usually on the first day the stock price drops 60-80%. Subsequently it may tick up a bit. Eventually it'll plateau, as volume drops to almost nothing.
As for clearing up the issues, that's unlikely to happen anytime soon. Probably the SEC is conducting an investigation, and they take a long time.
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