Due to the Trading Halt we are witnessing an extended preopen auction period in which weird numbers are normal. By putting in a low sell value he is jumping to the top of the list to get his order filled. Only value that matters is the indicative price which while fun to look at at the moment is meaningless until the hammer drops on trading again. Orders can be put in and retracted and this indicative price will change.
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Ann: Trading Halt, page-41
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