Perhaps you're correct on that, it's been only a short while since the inception of the new rule by Finra. However, usually only 1 seller cares to keep the actual size off and, 99% of the time, it's a heavy seller who does not want the market to know what's sitting there. Everytime I've seen it in the last however long it's been, it's always been revealed later as dilution of some sort, be it straight dilution selling, convertible debt selling, or, preferred share conversion selling. If you read Finra rules, it's pretty clear that retail has to show their asks. With the ambiguous loopholes like any rule has it seems, there may be a sneaky way of slipping it at 5k if the retail seller requests, idk, could be.
News 
Market Data 
Discover 
