Moola, when I said I had no idea why we spiked to $2.83 that day, I meant in regards to the "why" from a news or rumour perspective. I was watching that day as well, and I enderstand the technical reasons. Large buys or sells are usually given to a MM and they mask the true amount by filling it in pieces so as not to rock the market. That days early action seemed to surprise the MM and I think involved some "at the market" orders that would need to be filled right away. I am just don't know why someone would have done that. The rest was just others jumping in blindly and shorts covering, thinking someone knew something and it dropped when it was obvious they didn't

I am not sure about your question of why someone could trade before market open. Retail has full access to the markets the same as anyone. The time from 8:00 A.M. to 9:30 A.M is called premarket and you can trade it though not many do. Also a market can open up or down significantly (gap) when buying or selling interest is high and investors/MM move their bids and asks up or down in anticipation.