Ron,
<They need to make an orderly market ...>
But, the gap-up is huge. Also, within a minute or two of re-opening it, like Greg said, EMLX dropped to $107 or so. How can it be an orderly market? If MM can't prevent a huge gap up, why bother halt it. Let everyone have a fair chance to trade and let the stock find its own balance. So many people had no chance what so ever to trade the stock due to this huge gap-up at the re-open. Repeat myself, how can this be an orderly market? Understand that MM are human too. They can drop the bid fast. Fair game. But, halted and then re-opening it with a huge gap-up is not a fair game. Lot of people who would want to buy-back, short-covering, etc. were taken out of the game with this huge gap-up. Wish, MM can give interview to CNBC and explain/justify the gap-up of about $70 or so.
In my opinion, if EMLX re-opened at or near the halted price, $45, then no one could complain, because the chance is even field...
Please educate me. Appreciated.
Thanks. |
