I think that in this particular case at least one instutional buyer that had already decided on acceptable buy price saw an opportunity to buy a large quantity of the stock cheaply and decided to jump in with the price that had already been approved/sanctioned. The reason that the gap is there is that no market maker or any other buyer had placed orders to sell within that gap. They had already placed orders to sell at market and the price had dropped to where it dropped. So when the institutional buyer pushed the buy button the price moved straight up to where the order was filled.
It's the reverse of an island top which is bullish. It is likely that the gaps will be revisited. The overall volume on this stock makes this a volatile stock to trade. But I think you already know all of that. 9/13/23
Violet
