They are small sells, so not losing a lot but that's clearly what is happening. It's not a noteholder market maker and in addition that's not how they convert w tiny bid dumps. They convert in out-of-market shares that come in with weird amounts of the tape as they sell to a market maker who then puts the shares on the ask or uses the shares to close a short.
So what you're saying is it's not possible that dumps were buys at 0009 through 0011... Unless you're using internet math that would be a profit to sell it 13 and 14
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