RE:price action10 cents is the automatic limit on an ask on a stock with a price of under 2.5 cents. Just to protect the unwary from annihilation. There are shares today on the offer at 3 cents but only 5,000. I do not know what the rest of the book looks like.
Imagine what could happen with a market order for 50,000 shares if there was not that governor. Someone in that case might have an ask in for $10. Yesterday someone put in a market that sucked up the whole offer book to that 10 cent limit. It cost them some money, but there was a limit to the bleeding.