Ive seen trading days like that. Im not sure if its for the release of audited financials or not, but that sounds right. The other day I was watching one that didnt do any trading for the first 10 minutes because MM's were juggling the L2 around trying to adjust the PPS, FYI the first trade went through at about 4000% higher than the previous days close, and I dont even know how good the financial/whatever they were actually were lol.
We could see an awesome spike - IMO 10's of thousands of percents are definitely possible here.