greenhornet1
Yes, IMO the 1.7 mill was M&Ms settling out trades they made to each other during the day.
This opinion has to be wrong, because market makers don't buy and sell to each other to move the PPs.
But IMO two or more MMs bought or sold 1.7 million shares 1/10ths of a cent apart in large block trades to manipulate traders to follow their direction, during the days tradeing.
At the end of the day, they sell the shares back to each other, at as tiny a profit or loose as possible and still end up good, because they bought more shares lower from weak hand trader.
Between 2:30 and 3pm just when the PPs started to drop from .227 to .222, I add up 1,630,500 shares traded, closing at .225 & .224, between 2:30 and 3 pm. Then between 3:15 and 4 pm 1,952,000 closed at .221 & .222. Of course every share traded didn't go to and from MMs, but I'll bet the bulk did.
So now MM A that bought, the shares at .225; sold them back to MM B at .224, after the close. And they both accumulated 1.9 mill between them for ,.222 or so. Get the idea.
Who else can trade pennies after hours, some crazy retail trader, that just decided to buy $400,000 dollars worth of Gtel the last minute? Or maybe it was 10 or 20 traders that wanted to buy at .224 when the ask was .222, why ?
News 
Market Data 
Discover 
AI
