I do lack the knowledge of how that works. It'
Post# of 39368
It's estimated they need to cover beginning at about 3 cents. I do not understand why they would not cover earlier.
They have to cover " X " amount of shares. Why wait for 3 cents when you can buy the same shares at .01 or ?????
The answer is it depends if their gamblers or gurls in panic mode. I choose the latter.
A buddy of mine remembers a stock that went for triple digits to .20 cents in two days due to Illegal NSS having to cover ...... With a 3 Billion O/S count. Teco is at about 2 Billion and much more volatile IMO
They will not admit it but IMO they began covering last week when the PPS popped from .0001 to .0004 .... Most likely a long who had a Market Order in and forgot to cancel the order. And a shorty happened to get lucky.
This post can be copied and sent to the SEC and FBI if chosen to help them put me away for 10 years ........ lol