Exactly. Essentially it allows “experts”/ institutional buyers (whoever is in the club). Are allowed to sit with a wide open .000001 bid… while no bid competition is allowed at all. Retail is only allowed to liquidate… and blocked from seeing what the real market would be for the actual shares.
Most certainly, even given the circumstances, there would be a market. Retail is blocked from participation in that market to the benefit corrupt institutions who have every perverse incentive to act against retail at every turn. They fear no reprisal as the rule makers are also in the club.
The opposite of a free market. Top down authoritarian controls instituted to protect those who least need protection from… those they fear the most… retail.
Retail acting in unison… holding real meaningful size off bottom of a play like WCVC. That is what they fear. Rightly so.
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