Just a guess here, that share cancellation could be imminent and someone just got the word. Why else would they be in such a panic to sell here?
smart sellers, if they wish to dump 2 millions shares. they spread it during the day. Only prop desk, MM or hedge funds does that at 9;30 to depress price and buy bigger volume from 11 to 4. A broker can do it internally and book all after hours
For Schwab and others, this is where the money is, beyond margin or securities lending. #$%$ commission is peanut, just to bring the sheep in JIMHO
who is paying you? SAC, Avenue JIMHO
One trade dropped the price and someone is buying up
got to cover his butt by the end of the day
This is ALL about Shorty and his Play Station.
Longs are going No Where. We want to see the end of the movie
no artificial plunge to turn shares from retail to institutionnals by prop desks
My guess is that you have no clue.
Shareholders could wake up any day now to having no shares at all if they get cancelled during market close or during a halt. Very risky from here on out.