Jan. 06, 2017
I have a stock that has lost a lot since SEC enacted a nickel tic program. The stock is WMIH trading at ASK of 1.50
Who came up with such a dumb idea for a nickel spread on a low priced stock? Did the HFT, and Hedge funds request this so they can manipulated the pps more to their advantage? The large funds can now just park the pps at $1.50 and play the spread all day and make 3.5%.
Is this what the SEC is all about helping promote stock manipulation? Please forward this to management so they can review this nickel tic program and the cause it has on small investors. This nickel tic should be remove ASAP on small stocks with low volume it only helps the HFT manipulate the trades to their advantage.
Retired small investor that is finding the stock market is rigged for the HFT and large market makers.