This was shorted from .0055, on February 28th. The MM FANC was working the ask/bid hard, and even a couple of his buddies SBSH, NITE, SSGI jumped in for some fun.
Once they took a short position, they made the spread so wide, that it discouraged traders/investors. The spread was set at .0045 x .0055, and from then until close, PPS declined, and never recovered - leaving us with a red day.
There is a new piece of legislation coming onto the books on March 18th regarding shorts. Perhaps this is the MMs last hurrah, before going legit, lol. Legit? Who am I kidding? LOL. Ok, maybe just cleaning up their act a bit to throw the SEC a bone.
It's supposed to cool off in the New York area for the rest of this week. I hope speculation drives PPS up a bit.
JMHO.
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