Illiquid? Why are there 211 market makers in the Pinks?
Could it be because MM's can hold positions in Pink stocks and they CAN'T in listed stocks?
Quick calculation: If an MM can short 109,099,482 shares every day @ .0004 and cover same @ .0003, he can gross approx $1 million in 100 trading days or 5 months.
Multiply that by a few stocks and you can set up a basement office in Brooklyn. No offense to Brooklyn.
Not surprising that you didn't respond to my question: Are you saying that to provide liquidity, yesterday's long-sell vol required a short of 87.8% of the total vol?