RE: Nice £50k26 Jun 2020 17:00
The SP was very static for a few hours. MM's not making any money. 2 choices. Sit tight, get board and don't earn any cash. OR, manipulate the SP, drop it, fish for a few sells to drag it down further and hence generate some buying to make some money on the spread. 2nd option generates some cash for the MM's.
The bit that annoys me is that more shares have been bought than sold since the lunchtime 250pence SP and we are still lower. That's the fraudulent bit that deserves to be looked at by the powers that be!
As some have said, if you have dry powder it does create a trading opportunity that wouldn't have otherwise existed...