In the market depth image shown, watching in real-time, I noticed this behavior. The ask volume (260,000) wouldn't change even though transactions on the right kept hitting the ask price in volumes greater than the 260,000 displayed. Is is possible 260,000 number isn't a true representation? If so, how can one see the true volume for sale at the ask?

I'm not sure it makes a difference that this is a penny stock as I've noticed the same behavior on non-penny stocks.

Market Depth

  • What is the ticker? Is this Rennova Health, Inc. (RNVA)?
    – Flux
    Apr 22, 2021 at 22:27
  • Yes, that's correct.
    – jwats
    Apr 23, 2021 at 16:27
  • What trading platform is this? It could be an issue with your data source.
    – Flux
    Apr 23, 2021 at 16:32
  • This particular view is from Schwab. (StreetSmart Edge)
    – jwats
    Apr 23, 2021 at 16:34
  • Perhaps there is a problem with your platform. This is what I see in thinkorswim (web version): i.stack.imgur.com/BOcQ5.png
    – Flux
    Apr 23, 2021 at 16:55

1 Answer 1


I don't know about the Pink Sheets but on major exchanges, hiiden orders offer traders the ability to disguise the size of their order, displaying only the order size that they want.

Iceberg Order:

Iceberg orders are large orders that are split up into lots or small sized limit orders. They are split up into visible and hidden parts, with the latter transitioning to visibility after the former type of order is executed.

They are typically placed by large institutional investors to avoid disrupting trading markets with a single, large order.

  • Got it, thank you.
    – jwats
    Apr 23, 2021 at 16:30

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