Called my broker to explain the shenanigans here also. No idea how or why this was behaving like this and we're going to raise an internal note to MMs.
RE: Besides all the optimistic but futile21 Mar 2022 13:44
if your going to be upset by not reaching +500% or when others take profit instead of sticking to your own conviction targets and research, then there's always the national lottery.
its a full time job trying to buy and admittedly i've given up trying to add through fatigue. i have a core holding and will let it ride try to do some work.
These blocks now back on L2 Ask (slightly reduced - so I suspect normally hidden at fractions under the Ask to restrict): 1.832p 470,707 12:00 1.832p 470,707 12:00
I have spoken with FCA regarding potential market maker and L2 manipulation, now aware and logged. Also spoken to LSE who assured me that its the FCA that should be contacted.
Well it also means MMs can collect relatively more shares than they're selling...if anyone is silly enough to sell. POGs vulnerable to hostile takeover and it won't be at 2p.
At least they've now managed a 0.004p spread instead of 0.001p. MMs fundamentally failing in their regulated duty to make an honest market and provide liquidity. Fact is, they are locking down buys to help their II mates buy out short positions and replenish their own books, all without resetting the share price.
L2 is very clearly being manipulated and its worthy of reporting if I see it continue this morning. Twice I've seen someone drop shares in a fraction above the Bid to paint a misleading picture of the true spread and gain. They've both been bought.