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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4480
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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Placed a limit order to sell stock at $30 per share with no

Customer Question

placed a limit order to sell stock at $30 per share with no expiration date. At the time I placed the order the stock was trading at $29. Next day at the market openning the stock price opened at $31. Would I get $30 or $31 per share? Please only answer
my question if you can provide qualified link to support your answer.
Submitted: 1 year ago.
Category: Finance
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend,
Hello and welcome. Thank you for providing an opportunity to assist you.
As per the order matching system, if any previous overnight bid exists at $30, your order will get executed at 30.
However, you say that the OPENING price, i.e. the first tick is 31, then there is obviously no bid less than that. So your sell order will get executed at 31.
Please refer the following.
www.nasdaq.com/reference/market_mechanics.pdf
I am sure this would help. I wish you good luck.
You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.
Warm Regards
Customer: replied 1 year ago.
please let me know where in the link document it states that. If does not state this in the attached document please provide another link or opt out. thank you.
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend,
The order matching system is explained in detail in the link document.
Please scroll down and go through the document patiently and in detail.
I am sure this would help. I wish you good luck.
You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.
Warm Regards
Customer: replied 1 year ago.
please opt out. As this document does not deal with opening of the stock market. Things are much more involved -- please see the document http://www.investopedia.com/articles/investing/080713/opening-cross-how-nasdaq-stock-prices-are-set.asp
However, even this document does not answer my question. Also my stock is on NY stock exchange and rules are different form NASDAQ.
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend,
I am opting out of this.
Warm Regards

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