There are a few things that you need to know about the market maker NITE. Knight Securities uses the ticker $NITE. This market maker is known for being one of the most abusive market makers in the penny stock market. Most of the popular penny stock brokers route from NITE because they are quick to execute most orders. One thing that I’ve noticed is that NITE tries to screw you over. You have to realize that each market maker has it’s own complex algorithm that tries to make them money. Sometimes they make money by shorting the ask and then covering on the bid. Sometimes when a stock is running and you place an order on the ask and you don’t get filled, it is actually the market maker taking shares on the ask. Then they move up the bid and ask and tries to bait traders into hitting the ask again to sell the shares that they just bought. You’ll also see MM’s shorting a stock as it runs up because they know that it will eventually come down. Think of it this way. If they are able to short a stock at .01 and it runs to .10, you will hear people on the stock forums saying, shorty is going to get burned, or this market maker is short. In reality, it really won’t matter because naked shorting really isn’t enforced and any short will eventually be able to cover if they just keeping shorting more. If they short at .01, .02, .03…to .10 it appears that they are really short.
News 
Market Data 
Discover 
AI
