Jul. 31 at 2:10 PM
$JAKK During the recording, JAKK is around
$25.98, down ~1.57%, after reaching
$26.68 earlier. The displayed market is extremely thin. At one point it is roughly
$25.95 bid /
$26.21 ask, and later about
$25.95 /
$26.16. That's a
$0.21–
$0.26 spread, enormous for a ~
$26 stock.
Yet the last price is moving around dramatically on tiny executions. The tape shows, among other things:
09:51:08 — 25,000 shares @
$26.39
09:51:52 — 1,500 + 3,500 shares @
$26.39
09:54:59 — 19 shares @
$25.96
10:03:24 — 277 shares @
$26.31
10:03:26 — 17 shares @
$25.90
10:04:37 — 2 shares @
$26.47
10:04:47 — 10 shares @
$25.92
10:05:12 — 60 shares @
$26.04
10:05:15 — 5 shares @
$26.34
10:05:32 — 250 shares @
$25.98
10:05:35 — 27 shares @
$25.92
That is extremely discontinuous price formation.
The 2-share
$26.47 print followed shortly afterward by 10 shares at
$25.92 is a
$0.55 difference on trivial quantities. Conversely, five shares later print
$26.34. T
