I hope we're closer, I never imagined there'd be that many available at 2. I don't know what the source of the shares were, but in my experience, all walls are fake, whether bid or ask. They crumble if hit hard.
If there are a lot of buyers at the bid and that price gets hit hard, many buyers lower their bids anticipating a downtick (the wall crumbles); same with buys--if the ask gets hit hard, many sellers will up their asks anticipating an uptick.
But here, if you noticed, we did have 2 momentary jumps to an ask of 3, but it quickly went back to 2 and there was another 60-80 million shares available.
2 was the bid only a week or so ago and it's been hit fairly hard every day since it became the ask. So there aren't legions of trapped sellers trying to get out that they, seeing their chance, would bid whack like that. How many people, having waited this long, would not hang around a little bit longer to see where that buying spree was headed?
Despite psychology saying "don't sell just yet", there were unlimited shares available. That tells me there is a good chance it was not retail sellers. But if that's true--that the source was something other than us retailers, then we may not be closer, the concept of "closer" may have no application here, the pile of shares available may really be unlimited.
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