agree. It's just use to prevent people from selling their shares. It's psychology. Some person already holds a big chunk of position and use it to make people change their "sell" decision. In fact, the announcement is still no out yet, so it could be or never be. But now, not many more buyers.
What if they knew that the something that they knew wouldn't be generally known for, say, a few more weeks? In that case, why not sit on the bid on a downtrending stock?
On another topic:
FWIW, a 60M bid isn't that big of a deal on a subpenny. I own another sub with several hundred million on both the Bid and the Ask.
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