Level 2 Data basically said some trader was trying to unload the whole afternoon.
When they removed their order, it started to bounce.
Of course, they came back with their order and we stalled again.
Towards the end of the day (after 3pm) ....
It was $0.78 bid with that large order on the ask at $0.83 and then a gap until $0.95
Retail traders are being skinned for being impatient.
You held the stock and the news came.
Now, we have to wait for the news to sink in and buyers to take us up.
Market Maker DLNY is jumping the queue on the ask side because the spread is very wide. They don't want to sell - they want you to panic sell.
I am pretty sure that this is being held because someone wants to get some cheap shares.
The news has come ... but those that weren't in, want in for a low price.
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