It is exactly upon that basis wherein the manipulatability lies. The price is set by Markey makers who are free to post or not post prices at will, and to take or reject sales at will, and to trade their own shares (front-running) at will.
Thus, we end up with a market which can be made to do whatever forces outside of the normal buy/sell pressures from the customer orders wish it to do.
Truly, you can't tell me that you have never seen where you have posted a bid or ask for a penny and it is never reflected on the ticker, and you have never been filled for a lower price than the posted Ask and than your offer against that Ask?
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