I was watching - the Level 2 and the trades. Looked like someone bought about 300k in a few minutes to run the price up to its highs. Then someone(s) sold about 1mm shares to bring the price back down under .27 (one market maker was hit with a ton of 25k blocks at .27) by the close with a final tick across the ~.01 spread to make the close .2779.

Obviously there’s a buyer and a seller in every one of these trades. So yes someone sold 1mm shares but that also means someone bought 1mm shares.

So you can’t say shorting makes a stock go down or buying makes it go up. Only thing that causes that is when supply or demand is exhausted at a given level and there is incremental interest that needs to move to a different price to transact. That’s what causes price to move, when a buyer or seller decides to cross the spread to transact. If demand outstrips supply on any given day depending on who happens to be participating in the market on that day, the price goes up until that demand is satisfied. Vice verse for sellers and supply. Economics at its best.

But, yes, it was interesting activity to say the least and really came out of the blue. Very odd. It’s as if……wait for it….. wait for it…..

Someone knows something.