$SRNE Let me explain how these walls work: Shorts load up sell orders to short sell @ $12. Every time someone else sells below $12, the shorts are able to buy back and cover, making pennies each time. They want a round # like $12 so that they can all coordinate to collectively form a wall. MMs are working with the shorts on the wall, too. They set buy orders @ 11.99 and sell orders at 12.00 so they profit the spread on each transaction. They can keep this up forever as long as neither the buy volume nor the sell volume is high enough, and they simply hope the sell volume eventually overtakes the buy volume. The wall of buys (thanks to the MMs) seems to be moving up now, however, so everyone who shorted below the wall is now trapped.
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