It is stupidity. I have 30 years' experience in working in the market and we now have too many amateurs in the game trading from home. I am retired and trade to make a few bucks (hopefully mucho bucks!).
When you see a big bid or offer and you have an interest on the other side, you whack it. What difference does it make on $.01 on 20,000 shares? It is so petty, and you miss your opportunity. When they miss it, then they go into panic mode. The way we were trading this morning, if they weren't petty over a penny here or there, the price of SHWZ would probably be around $1.75 currently despite the nervousness of the market. The cannabis sector is doing really well today despite the rest of the market.
Despite some shareholders views on this board, there is NO SUCH THING as a fake bid or offer. If it is on the screen and you are fast enough to whack it, they have to honor it. Traders do throw up some big numbers to try to scare traders, but if someone on the other side of trade is fast enough, they crap their pants to get hit. That is why I like seeing big numbers because the big boys are looking for size to make trades. Big traders are not interested in doing a couple of thousand share lots. It is too much of a nuisance. A 5,000-share lot is good for someone looking to flip but the big guys want 5 or 6 figure lots to do something. Obviously, this stock doesn't see that kind of size because of the pretty low size float so 20,000 share lots are desirable. Some idiot missed their chance and then panicked.
That is my experience and opinion on the matter.
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