If you google it, you will read a discription where the trades are to clear up imbalances that couldn't be taken care of during the "regular" trading day. I forget how much time is allowed for them to do this after close, but it is suppose to be a set time. I believe it might be as short as 20 seconds. Someone else might know. As with the naked short loophole, the form T loophole appears to be used by manipulating MMs to keep transactions secret during the trading day and then claim that imbalances just need to be corrected after hours because it couldn't be done during the day. One or two trades in the slop of the trading day is understandable when the trade would happen at 3:59:59 in the day....it would have to finish transacting after the close. Twelve million shares today is a joke. These are trades that were used in the manipulation of the stock..today it was manipulated down. They can put any price on it they want. Watch the trades yourself and if the day seems particularly strange in trading patterns....expect a lot of form t trades to "show up". Poor MMs in this computer age had 12 million shares pile up that just couldn't be shown during the regular session and shown at the real price transaction. Its not what is right or wrong anymore...simply what you can get away with.
News 
Market Data 
Discover 
AI
