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Question on stock price
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birth     Reply with quote
l went ahead and bought RCL this weekend on my sharebuilder account.At the time it was going for $14.However, this morning my order showed that l purchased the stock for $14.96How is this possible.Why did l not get the $14 that it should have been offered at?l seen the graph and it showed the stock started the day off higher than $14?Why is this and how can l guarantee that l get the stock for $14?Thanks!
Underground     Reply with quote
Your order is placed at market. Which means by the time u clicked ''buy'' & the trade was fulfilled, the price had changed. Unless it says ''cost basis'' & then it is the price that u paid plus a commission. In order to get the stock at a specific price u would have to place a ''limit'' order. This is where u specify the max price that u will pay. A buy limit order can only be executed at the limit price or lower, & a sell limit order can only be executed at the limit price or higher. When u place a market order, u can not control the price at which ur order will be filled. You, placed a market order.
Gerardo     Reply with quote
It was not going for $14. It was not going for anything.

You said that u placed the order over the weekend. The markets r not open on he weekend, so, the 14 that u saw was the last trade done last Friday. If u place an order when the market is closed, the broker holds it & then tries to fill it when the market opens (in this case: on Monday) If u do not want to pay more than 14, then u should put a limit of 14 on it. In this case that means u would not get the stock, because RCL has not traded anywhere near 14 so far today.
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