PFCK Gets $50 million cash infusion Message Board

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Microcap & Penny Stocks : PFCK Gets $50 million cash infusion

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To: Fli-by who wrote (279)	5/14/1998 11:05:00 AM
From: Norman Stone	Read Replies (1) of 716

Why such a big spread? Low volume. An MM can refuse to post a bid by leaving the market, and when the volume is low enough, he will not be missing any action by leaving. So he will post only high asks and low bids, and pocket the difference. As volume increases, leaving the market becomes less cost-effective, so he must accept more (mid-range) bids, and the spread tightens.

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