They got squeezed. Market Makers need to have a "stock pile" of shares and are allowed to move stock price. This is to "provide a stable market". Its earnings season. So you would think the right thing to do if they got caught and were coming up short then they should move the price up to a point where "retail" wants to sell....
Nah Market Makers move it down for what ever BS reason until "retail" sells for a loss. "See its not deemed valuable enough to hold". If no one panic sells or sells then they can't build their position to provide so it has to be brought up because its in investors hands not day traders. This should be illegal but its not. once they have enough or bring it down enough the BS stops. Problem is no ones going to hold for that big of a loss to wait for the return. They'll get out until "bottom is in" then buy back in if they like the company.
Either ride the dip or increase position when they are done by buying back in. Problem is "when are they done?" once they are they with let it go right back up quick.
They aren't supposed to undercut retail ask price either but I watch it happen all the time. No one seems to take the time to take screen shots and report it. Only a slap on the wrist to them anyway. all those T trades that undercut retail ask price.....
Now we know why they did a stop loss raid. Excellent news out. hold on tight. Still should be illegal for market makers to do that. Alot of people that got stopped out will be pissed
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