bored/curious
Yesterday and today (just now), saw a huge ask appear at 0.45. Massive block of shares. I could see if someone was taking profit they would sell some, but that much? I could see if someone got coldfeet and was cashing out the would sell but why do as one big static block at 0.45 ask point. Obviously it creates a big ceiling....but why.
What is the stock strategy behind this kind of thing? Like, as a a real answer. Not just "manipulation" or "blowjobjoe's boss....". Genuinely curious how traders/day traders/speculators work and how this benefits anyone to have a big boring chunk of shares sitting at a 0.45 ask today and yesterday. Would never want to emulate but I'm curious how the game works behind the scenes.