RE:RE:Tell Me Again Well the first thing I'll say is that it could be anything . It could always just be one or more people (more likely one the way it jumped to that amount all at once from like 5,500 shares at $0.09) that just wanted /needed to sell their shares and move on for any of a number of reasons.
It's the timing that's suspicious. We haven't seen asks that thick even in the midst of radio silence and the market meltdown earlier in the week. So one day after actual news someone puts that up? It's weird to say the least . I'm remiss to say "shorters" because shorting costs money. Very little shorting happens with penny stocks (like the ones that are actually pennies) because there's very little room to go further down but oh so much room to go up.
So what do I mean by games? Well there's "spoofing". This can happen for opposite reasons on either the bid or the ask. Basically spoofing is putting up a wall of shares the placer has no intention of buying or selling. On the bid it's used as a "bullish indicator " (holy wow look at those bids something must be up or someone wants in). On the ask it's used to suppress buying pressure (especially on tickers with low volume ). How many times have you seen just a few on the ask on one of your holdings and bought the ask just to clear the $x's? It happens lots. With a bigger ask than volume it keeps the price right there. It's not always about dropping price but stopping it from going up too much while you patiently snipe shares. Lastly but probably not the case here today are the traders who see themselves as honey Badgers of Bay Street . They think they are shorting the stock but only because they don't understand what shorting is (and/or MM) . Either way it's non sensical to think that someone who wasn't frustrated enough to sell down here before yesterday's news is suddenly begging too.