RE: Who's jumpimg? That 1/2 mm ask is very suspicious. If somebody wanted to sell, why would they scare the buyers away?
I suspect that a MM wants to cover a large short position without running up the share price. With the share price capped at .72, the MM can buy to cover any other .72 sell orders. Of course the MM would have to add any .72 buy orders to his short position. If sell orders come in below .72, the MM will also buy these to cover.
In the event that a large buy order comes in at .72, the MM will allow a small partial fill and pull the 1/2 mm ask. MM's like to fill their customers orders. Often times this leads to large unwanted short positions that must be covered. When this happens, the MM's try to intice shareholders to sell.
There was quite a bit of volume yesterday at .72. In spite of this, the number of shares for sale at .72 remained the same. This adds to my belief that the 1/2 mm ask is for MM rebalancing. Also, if the MM can balance his position by dealing with other MMs, he will pull the ask.
This is all IMO. I have read that this is done, but, don't know if it's what's happening now.
JB