Buyers are being cautious in the wake of the shocking price swoon yesterday. Only 5k shares were dumped, but there were no bids at that moment. If we were on the NYSE, the specialist would have contained the move by taking some inventory until buyers came back. Now, buyers will not extend beyond bids backing them up.
Sellers, on the other hand want the same prices as they could get preswoon - hence the spread.
shares yesterday were "dumped" makes me wonder if it was an attempt to "surprise" shareholders by pushing the price down towards the $5 level...loosening up the "overhead supply" a bit more. I'd speculate that there is still several days worth of short interest to be covered and with the volume in the doldrums and the stock price so "cheap", loosening up the overhead supply might prove prescient. But then again, perhaps it represented capitulation . Either could bode well for WORK's share price; if only we knew. Are you seeing any bids per level II via Solomon Smith Barney?