PERT's website says that they use quantitative models for market making, but I am unsure if it is automated. Either way, you know how those crazy quants trade. It is likely that their quantitative model does not like the extent of their exposure as it relates to the implied volatility of this stock. That would explain the massive deleveraging. As per me, that is why I took a position - the potentially huge upside if we get a good 10-Q.
The great news, IMO, is that there are enough buyers at this volume to provide strong support in the high .30s.
Here is what PERT's website says about ther MM services -
"Market making in more than 7,500 stocks, utilizing a state-of-the-art quantitative models to provide best execution and additional liquidity "
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