Here is some more information about that trade.
DEFINITION of 'Imbalance of Orders'
A situation when too many orders of a particular type - either buy, sell or limit - for listed securities and not enough of the other, matching orders are received by an exchange. Also referred to as "order imbalance".
BREAKING DOWN 'Imbalance of Orders'
Shares experiencing an imbalance of orders may be temporarily halted if trading has already commenced for the day. If it occurs prior to market open, trading may be delayed. Better-than-expected earnings or other unexpected good news can result in a surge in buy orders in relation to sell orders. Likewise, unexpected negative news can bring a large sell-off.
What is a 'Market-On-Close Order - MOC'
A market-on-close order (MOC) is a non-limit market order that is executed as close to the end of the market day as possible. All MOC orders must be submitted by 3:45 p.m. ET on the NYSE and by 3:50 p.m. ET on the Nasdaq, as both of them close at 4 p.m. and neither exchange allows for the modification or cancellation of MOC orders after those times.
BREAKING DOWN 'Market-On-Close Order - MOC'
Market on close (MOC) means that the investor wants to buy or sell a given financial instrument at the last price that is dealt in the market at the end of the trading day. MOC orders do not specify a target price; some analysts believe that this makes it too easy to take advantage of investors by giving a poor execution.
So basically, there was a large seller at the end of the day and the Market Makers were having a difficult time matching the order to buy orders. No way of telling if it was an end of the day short bomb or actual investor getting out of their position.
Do I have it about right?
Something GREAT is HAPPENING to Zion $ZN
