Those scooped in the dump at 1.1cents, put immediate sell at 1.2 cents and equal buy at 1.1cent. Volume and % drop triggered the trader programs. Those who came in few seconds later had to jump the re-populated 1.1's as the buy stack looked too large. And so it goes around.
I don't think they were racing in on some secret sales news, just the chance of good short term trade or average down if they were stuck higher up.
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