The large spread usually shows up when the volume drops off and the traders don't know which way to take it. Right now there is a battle going on between the little flippers and the big traders. Yesterday, when the buyers overwhelmed the sellers, the big boys just bought it up 40% so they could get some sellers to fill all the buy orders. They probably shorted some there also. Now they're trying to get it back down to cover and reload, and the little guys are trying to either make a little so they can buy more, or just get out the best they can so they can chase another one-day wonder.
I've given up on trying to predict day by day, minute by minute price action. The filings yesterday tell me that the dd showing that the nasdaq is the goal is true, so I'll just hold for that $4/share minimum listing price....
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