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Penny stocks often have unreal bid/asks after-hours and they are completely fake... could they do something about that too? As an example for today, look at AL

Penny stocks often have unreal bid/asks after-hours and they are completely fake... could they do something about that too? As an example for today, look at ALPP... bid: $2.00, ask: $7.00 ... but is is messed up across the board... the real price is around $3.70 And I wish that they would also regulate cryptos because a couple of days ago the spread was $1000 on BTC so I tried to make some money but after I bought with Coinbase, they would not let me sell.

smabie 5y ago
Why is a wide spread fake? Market makers adjust width based on market conditions, nothing wrong with that. Regarding the CB $1000 spread, it occured due to an exchange outage I believe.
- Black101 5y ago
  > Regarding the CB $1000 spread, it occurred due to an exchange outage I believe. Why would they let you buy and not sell? I bought and tried to sell and it didn't work so I bought again and tried to sell again and it still would not work... Coinbase is very manipulative so they should get regulated.
  - gruez 5y ago
    >Coinbase is very manipulative so they should get regulated. Ironic given that coinbase is one of the more regulated exchanges out there (the others being gemini and kraken). You can definitely go worse, eg. bitfinex or binance.
    - smabie 5y ago
      Binance is better than coinbase in pretty much everyway it matters (except regs I guess), but kraken and bitfinex are total shit shows.
    - Black101 5y ago
      no issues with Kraken yet (but I am mostly holding XMR on that exchange)... but every time bitcoin drops quickly, I have issues with Coinbase (ever since they existed)
  - smabie 5y ago
    Why would you want to buy at the bid and then sell at the offer with a $1000 spread? You would lose tons of money, unless you mean you were trying to make the market at a tighter spread (instead of taking).
    - Black101 5y ago
      When I bought at $50.5K, it was going to roughly $52k every other second... easy money (if they let you sell) ... next time I will do a screencast (right now I only have a bunch of screen shots). IE: The spread was going nuts... 1 second you could buy a bitcoin at $50k and the other you could sell it at $52k. I have a video of the spread going nuts at a different point in time, but it wasn't this bad. Even if it is a YC company, they need to regulate them ASAP.
      - smabie 5y ago
        That's not how spreads work, an order book can never be in cross. Orders that are in cross are matched and removed from the book. You could buy at 52k and sell at 50k, not the other way around.
        Black101 5y ago
        When the spread is $1k, the actual price that you can buy at changes really fast... 1 second, I could buy at $50k and the next second I could buy at $51k, AKA the last trade price.
  - gjs278 5y ago
    because you didn’t pay them yet. you probably don’t have instant deposit so they were waiting for the money to clear from your bank account.
- Black101 5y ago
  Must be another "outage" coming right now
gruez 5y ago
>a couple of days ago the spread was $1000 on BTC Are you using coinbase or coinbase pro? The former gives much worse spreads than the latter, because coinbase is acting as the counterparty. I can't be bothered to check coinbase's spread right now (captcha wall) but on coinbase pro the spread is one cent. https://i.imgur.com/uZHDy4X.png https://i.imgur.com/uZHDy4X.png
- Black101 5y ago
  It is Coinbase pro, and most of the time, the spread is smaller then $10, but when Bitcoin's price changes rapidly, the spread goes nuts... I have seen it greater then $1000 on 5/13/2021. Next time I do a screencast.
yowlingcat 5y ago
I would advise you to understand how markets work better before you get more into trading. You don't seem to understand how high bid-ask spreads indicate low liquidity, nor the risks of trying to take a position in a market condition where you have such low liquidity. It's like driving down an icy road that's empty at night and trying to make a right turn. Sure, it might look like you can go fast because it's empty. But it's empty for a reason. And you'll figure that out when you try and take the turn and can't get any traction.
- Black101 5y ago
  The problem is Coinbase Pro that wasn't allowing me to place sell orders while allowing me to place buy orders. I should not have talked about spread because I think it confused everyone. The actual buy price was going up and down by $1000s every few seconds. Also, I'm just investing profits at this point so don't worry about me (IE: took out initial capital).

smabie 5y ago

Why is a wide spread fake? Market makers adjust width based on market conditions, nothing wrong with that. Regarding the CB $1000 spread, it occured due to an exchange outage I believe.

Black101 5y ago
> Regarding the CB $1000 spread, it occurred due to an exchange outage I believe. Why would they let you buy and not sell? I bought and tried to sell and it didn't work so I bought again and tried to sell again and it still would not work... Coinbase is very manipulative so they should get regulated.
- gruez 5y ago
  >Coinbase is very manipulative so they should get regulated. Ironic given that coinbase is one of the more regulated exchanges out there (the others being gemini and kraken). You can definitely go worse, eg. bitfinex or binance.
  - smabie 5y ago
    Binance is better than coinbase in pretty much everyway it matters (except regs I guess), but kraken and bitfinex are total shit shows.
  - Black101 5y ago
    no issues with Kraken yet (but I am mostly holding XMR on that exchange)... but every time bitcoin drops quickly, I have issues with Coinbase (ever since they existed)
- smabie 5y ago
  Why would you want to buy at the bid and then sell at the offer with a $1000 spread? You would lose tons of money, unless you mean you were trying to make the market at a tighter spread (instead of taking).
  - Black101 5y ago
    When I bought at $50.5K, it was going to roughly $52k every other second... easy money (if they let you sell) ... next time I will do a screencast (right now I only have a bunch of screen shots). IE: The spread was going nuts... 1 second you could buy a bitcoin at $50k and the other you could sell it at $52k. I have a video of the spread going nuts at a different point in time, but it wasn't this bad. Even if it is a YC company, they need to regulate them ASAP.
    - smabie 5y ago
      That's not how spreads work, an order book can never be in cross. Orders that are in cross are matched and removed from the book. You could buy at 52k and sell at 50k, not the other way around.
      - Black101 5y ago
        When the spread is $1k, the actual price that you can buy at changes really fast... 1 second, I could buy at $50k and the next second I could buy at $51k, AKA the last trade price.
- gjs278 5y ago
  because you didn’t pay them yet. you probably don’t have instant deposit so they were waiting for the money to clear from your bank account.
Black101 5y ago
Must be another "outage" coming right now

gruez 5y ago

>a couple of days ago the spread was $1000 on BTC Are you using coinbase or coinbase pro? The former gives much worse spreads than the latter, because coinbase is acting as the counterparty. I can't be bothered to check coinbase's spread right now (captcha wall) but on coinbase pro the spread is one cent. https://i.imgur.com/uZHDy4X.png https://i.imgur.com/uZHDy4X.png

Black101 5y ago
It is Coinbase pro, and most of the time, the spread is smaller then $10, but when Bitcoin's price changes rapidly, the spread goes nuts... I have seen it greater then $1000 on 5/13/2021. Next time I do a screencast.

yowlingcat 5y ago

I would advise you to understand how markets work better before you get more into trading. You don't seem to understand how high bid-ask spreads indicate low liquidity, nor the risks of trying to take a position in a market condition where you have such low liquidity. It's like driving down an icy road that's empty at night and trying to make a right turn. Sure, it might look like you can go fast because it's empty. But it's empty for a reason. And you'll figure that out when you try and take the turn and can't get any traction.

Black101 5y ago
The problem is Coinbase Pro that wasn't allowing me to place sell orders while allowing me to place buy orders. I should not have talked about spread because I think it confused everyone. The actual buy price was going up and down by $1000s every few seconds. Also, I'm just investing profits at this point so don't worry about me (IE: took out initial capital).