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How is the opening stock price decided on a direct listing? Is there a way to put in orders for a ticker before it has opened/been listed so that you can purch
by thrwn_frthr_awy 6y ago
How is the opening stock price decided on a direct listing?
Is there a way to put in orders for a ticker before it has opened/been listed so that you can purchase at 9:30 on the 14th?
- JumpCrisscross 6y ago> How is the opening stock price decided on a direct listing? Same way every stock does every morning: the opening cross [1]. [1] http://www.nasdaqtrader.com/Trader.aspx?id=OpenClose http://www.nasdaqtrader.com/Trader.aspx?id=OpenClose
- an_opabinia 6y agoLook for an order type called "limit on open," or its radioactive cousin, "market on open." The reason people don't do this is, that kind of order requires having an opinion about what a stock should be priced at. And retail traders basically never have that opinion.
- deleted 6y ago[deleted]
- woobar 6y agoRBLX just did a direct listing. They set a reference price at $45. Later in the day (they did not start trading until midday) the reference price was adjusted to $60. I had two limit orders. One from day before at $50, another placed at noon at $62. None of them executed, since it opened at $64+.
- thrwn_frthr_awy 6y agoThank you. When did they set the reference? The day of or before?
- woobar 6y agoI saw it a day before, but on the day of listing they have updated it again