ripvanwinkle
Well-Known Member
Joined: Jan 9, 2011 22:36:42 GMT -5
Posts: 1,446
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Post by ripvanwinkle on Jan 28, 2021 22:28:40 GMT -5
Last March when this covid stuff started and began closing things down my daughter called me and said she was thinking of buying Gamestop because she felt people will now be at home and needing entertainment for the family. I looked up Gamestop and said its not in great financial shape and said I would not buy it. Well, she went ahead and bought 1000 shares of Gamestop at about $4 share. Whoopie for her.
It closed at $193 today but I see the after hours price is at $311.99. I don't really understand after hours trading so hypothetically, and I'm not going to do it with all this going on, if I was to put in a order at open at market price for Gamestop or any other stock for that matter, will I pay the after hours price or that days closing price??
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justme
Senior Associate
Joined: Feb 10, 2012 13:12:47 GMT -5
Posts: 14,618
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Post by justme on Jan 28, 2021 23:00:27 GMT -5
OMG DO NOT BUY IT!!! HAVE YOU NOT BEEN WATCHING THE NEWS?!?!?!
It's a house of cards that is going to fall sooner rather than later. If you daughter still has the shares I would highly advise her to sale.
As for the technical answer to your question -- Neither actually. There's no set rule, but more often than not the price at market open is pretty cose to what it closed at vs what was in the after hours trading, but there's always things that can change that - like after hours news making no one want to sell at yesterday's close price.
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clarkrl2
Administrator
Joined: Dec 20, 2010 17:57:01 GMT -5
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Post by clarkrl2 on Jan 29, 2021 20:32:58 GMT -5
My brokerage Ally is set up where you select either extended market hours or regular hours.
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ripvanwinkle
Well-Known Member
Joined: Jan 9, 2011 22:36:42 GMT -5
Posts: 1,446
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Post by ripvanwinkle on Jan 31, 2021 18:23:49 GMT -5
OMG DO NOT BUY IT!!! HAVE YOU NOT BEEN WATCHING THE NEWS?!?!?! It's a house of cards that is going to fall sooner rather than later. If you daughter still has the shares I would highly advise her to sale. As for the technical answer to your question -- Neither actually. There's no set rule, but more often than not the price at market open is pretty cose to what it closed at vs what was in the after hours trading, but there's always things that can change that - like after hours news making no one want to sell at yesterday's close price. I see it opened at the after hours price. Glad I don't do options trading. My daughter did sell 500 at 349 and put a stop at 250. She has Schwab. |
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djAdvocate
Member Emeritus
only posting when the mood strikes me.
Joined: Jun 21, 2011 12:33:54 GMT -5
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Post by djAdvocate on Feb 1, 2021 23:58:54 GMT -5
Last March when this covid stuff started and began closing things down my daughter called me and said she was thinking of buying Gamestop because she felt people will now be at home and needing entertainment for the family. I looked up Gamestop and said its not in great financial shape and said I would not buy it. Well, she went ahead and bought 1000 shares of Gamestop at about $4 share. Whoopie for her.
It closed at $193 today but I see the after hours price is at $311.99. I don't really understand after hours trading so hypothetically, and I'm not going to do it with all this going on, if I was to put in a order at open at market price for Gamestop or any other stock for that matter, will I pay the after hours price or that days closing price??
after hours trading is peer to peer. if you do it, you should ONLY use limit orders. market orders are horrendously dangerous.
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