MM and Specialist are not the same. MM's on the Nasdaq are all electronic-only. Groups of them post bids and asks. On the NYSE, everyone follows the Specialist that ONE PERSON DESIGNATED to price the stock. The term Specialist has been re-named DMM = Designated Market Maker, but the change is in name-only. There's still ONE PERSON who can GAP UP or GAP DOWN the stock. Or accumulate it for resale.
You know a lot more than me on the function of these people.
Nevertheless, their role is to smooth out the bumps. They can set an initial price but from that point forward, it is the market that drives the price. Example if he set TLB at $4.00, how many trades would happen?
Your position is that the DMM for TLB is holding a lot of inventory. When the flood of margin selling is over, he will sell his position at a profit by setting a higher selling price. I don't think this will happen.
Only a few days left. Let's see what happens. By your theory, the price on Friday and beyond should be higher than $1.80. Is this right?