I have no idea which is worse the manipulation that I have observed in DNDN the past few years or the way the NASDAQ and SEC handles the manipulation.
Last year DNDN was pushed intraday from 24 to 7 and the NASDQ decided to halt. There was no news and no prosecutions. It re-opened after the halt at 25.
There was the time a few years ago gman and I were trading it and it dropped in two minutes from 22 to 17 on no news.
Then today the FDA approves their drug which was widely expected. That’s why the stock was already trading at 40 and no 7 bucks. And it runs up to 47 on heavy volume.
After thousands of traders positions themselves on this news the NSDQ decides to halt the stock creating an artificial excitement in the stock which will probably cause it to gap up further.
It would be great if the NSDQ came up with some consistent policies on how to handle fresh news and actually made the trading world aware of these policies. Otherwise, at times their marketplace appears to be a joke.