Mar. 19 at 2:52 PM
$GTCH This is just before and after eod yesterday.
That's an over 400m fake ask wall which is currently around 500m right now..
Spoofing is an illegal, prohibited practice in regulated US equity markets under the Dodd-Frank Act of 2010. It is considered market abuse to "bid or offer with intent to cancel before execution". However, spotting it in real-time is difficult, and high-frequency algorithms often operate just within the grey area of the law.
Why Market Makers/Whales Use Fake Walls
👉Creating Psychological Barriers: A massive "sell wall" (400 million shares) creates a "ceiling" that discourages buying and makes investors believe the price cannot rise, often causing them to sell prematurely.
👉Accumulation at Lower Prices: By placing a large sell wall to depress the price, a "whale" can accumulate shares cheaper, knowing they can cancel the massive sell order once they are done buying.
