An Example Of HFT "Liquidity": $10 Bid Ask Spread On A $14 Stock

There are daily lies by the HFT defenders that all little innocuous HFT does is provide substantial liquidity for capital markets. Then there is reality. Courtesy of this latest catch by Nanex, we have now witnessed a $10 bid/ask spread (!) on a $14 stock. And with that we can cross out the assumption that HFT is i) beneficial for stocks and ii) tightens bid/ask spreads.