Thursday, July 03, 2014 12:27:38 PM
What puzzles me is that SMAS is trading like any pink sheet stock. But of course it is on the gray market, not the pink sheets. Supposedly gray market stocks have no market makers, and only trade when a broker finds a buy and a sell order that match exactly. But as I found out not long ago, I can put in a buy order for any number of shares, and it will fill. And now today I see that Fidelity will even adjust the pps of the order as they will on any other stock. And just like my other SMAS buys, today's trade was routed through the market maker Knight Equities (NITE). So I can see no practical difference in the way SMAS trades from stocks that are not on the gray market. So I don't get it. Aside from the stigma of being on the gray market, how is this stock disadvantaged if it trades just like any no-bid stock on the pink sheets?
For reference here is the link to my previous post where I described my earlier buy orders.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100073344
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