The good news is that the market makers are supposed to cover/settle these trades in 72 hours. If they don't they are in violation of SEC rules governing shorting. So if they cannot cover the shares for cheaper pps they still have to buy the shares to cover. With shares so scarce it would be very risky for them to short for deliberate gain. If you watch the L2 over the last few weeks you can see that for the most part the only available shares have been small retail orders. Someone dumped about 100K into the market a week or two ago. CDEL has had a retail order of around 65k for the last few weeks and I think most of that is gone. It could pop back up at .25 but if it does I don't think it will be the full amount. Current L2 only has 12600 at .22 and 2500 x 2 at .24. That is all until 8.00 dollars. Obviously it will fill up some as retail sales happen but it is very thin. It should only take a small amount of buying to keep price steady. Any kind of significant outside buying pressure and pps will keep rising fairly rapidly. Happy Holidays everybody!
Speaking of market maker shenanigans - 60,000 order magically pops up and gets filled at an average pps of .17 when you can't get a 1K order filled for under .20. VC nailed it.
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