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info on not understanding stock quote

Posted by sportsmom12 (My Page) on
Wed, Mar 24, 04 at 19:57

I posted a question awhile ago and just got back to it. I wanted to buy some stock of vivo. I thought it was 10 a share, but look what happens when I try to buy 200 shares
(certainly not 2000)
Order Information
Quote Information
Account: 173216356 As of: 03/24/2004, 4:00pm
Action: Buy
Quantity: 200 Last Price: 10.20
Symbol: VIVO Bid Price: 0.01
Description: MERIDIAN BIOSCIENCE INC Ask Price: 9000.00
Order Type: Market

Time in Force: Day
Conditions: None
Trade Type: Cash
The estimated value of this trade without commission and fees: $1,800,000.00
Estimated Commission: $14.95
The estimated value of this trade with commission: $1,800,014.95

Follow-Up Postings:

RE: info on not understanding stock quote

You might try entering your orders during normal trading time. I notice the time of your order seems to be 4:00PM, which is the exact closing time of NASDAQ. After hours trading does take place, but it's much harder to match the bid and ask prices and you can expect to pay more if you buy that way.

My wild guess is that the weird bid and ask quotes you saw have to do with the fact that your order was entered exactly at 4:00PM. I'm guessing the after hours market associated with your online trading program takes a short while after NASDAQ closes to reset actual bid and ask prices and what you saw weren't real numbers.

Why not call your online brokerage service and ask them? They know vastly more than anyone on this forum is likely to know.

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