"Yesterday’s spike of ‘ off exchange ‘ and ‘ normal market volume’ was an indication of demand outstripping supply."
Why wouldn't this be allowed to naturally play out by MM with an increase in share price like in the case of Nvidia recently? What is so different about this company that MM's feel the need to artificially hold share price at a lower level?
Your Playing off exchange is only allowed to certified parties is right, but it is mainly Institutions, not market makers. Instinet started it and the "Insti" part stood for Institutions.