The only time it matters is if you have shares on margin, then the broker can use ur shares if u don’t have a sell order in. Placing sell orders way above price is just a method of trying to make the stock look more valuable to others. If MMs have shares in the pocket they rule.
I think you are right based on my long-term observations of the MMs ways...They pretty much 'Painted' the opening BID x ASK today morning, Ho w the Hell did the BID X ASK for FNMA start at .like .78? And then dropped it in a couple of minutes to 0.68. They were just driving the price down with Lower and lower 'Fake' BID x ASK between themselves. It was a concerted effort... I think they are 'in cahoots' with UST & FHFA and they seem to have 'an inside track' that there is 'no news' coming from the Gub'Ment side, So they brazenly pumped up and Sold SHORT a TON of shares in the high .80s yesterday and then dropped the price into low .60s to Cover their Shorts.
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